Updates

Augean - Licence delay causes earnings shortfall

August 2005

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In a pre-close trading update, hazardous waste site operator Augean has issued an unexpected profit warning, with first half operating profit now expected to be in the order of ï¿½2m. It blames this shortfall on two main factors, the first relating to receiving lower than expected volumes of waste, mainly from the construction industry which the group blames on a lack of effective policing of fly-tipping as well as a lack of market awareness of the legislation. However, Augean believes that a recent pick-up in enquiry levels will translate into an improvement in volumes in the second half. The second problem is that Augeanï¿½s application for a licence to convert part of its non-hazardous waste site at Thornhaugh into acceptin ...

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