Augean wastes not as all five divisions report good growth

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HAZARDOUS waste firm Augean reported growth in all five of its divisions in the first six months of 2014.

The Wetherby-based firm said revenues rose by six per cent to £24.9m in the six months to June 30.

In its Energy & Construction division, total waste volumes into the landfill sites were 151,125 tonnes and the group said the pipeline of work for the remainder of the year suggests that expectations for 2014 could be exceeded.

The Radioactive Waste Services division delivered 2,453 tonnes in the first six months and Augean said expectations could also be exceeded.

The newly formed Augean Integrated Services division grew revenues during the first half after it won new contracts with high value manufacturing customers. However, the facility at East Kent experienced delays in securing new waste volumes and as a consequence the division is significantly behind its plan.

Despite this the group said good progress is now being made on converting contractual opportunities for later in the second half of the year. Augean North Sea Services suffered a slow start to the year as drilling activity was curtailed in the North Sea by poor weather conditions.

Augean said the business made a strong recovery during the second quarter and is now in line with its plan for the year.

The Industry & Infrastructure division was hit by a slowdown in drill cuttings volumes during the first quarter.

However, the performance was sufficient to deliver a year on year improvement.

CEO Dr Stewart Davies said: “While the first quarter was impacted by a number of one-off issues, the overall performance in the second quarter and pipeline of work in the Energy & Construction and Radioactive Waste Services divisions give me confidence in delivering the strategy announced in March.”