Boss of hazardous waste management firm signals confidence in the company

Stewart Davies, chief executive of Augean.
Stewart Davies, chief executive of Augean.
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The boss of a waste management company with sites near Peterborough has signalled his confidence in the business.

Stewart Davies, chief executive of Augean, has just bought 50,000 ordinary shares at a price of 54.5 pence a share.

The purchase means Dr Davies has 155,000 ordinary shares in the company, which represents 0.15 per cent of the total number of shares issued and of the total voting rights of the company.

A spokeswoman said that the purchase was a clear vote of confidence in the company and its future progress.

His action comes just a few days after Augean announced a double-digit profit growth during the first half of the year.

The company’s interim results for the six months to the end of June, show that revenue rose by 27 per cent to £31.3 million compared to £24.7 million for the same period last year.

Pre-tax profits increased by 29 per cent to £3.1 million compared to £2.4 million in the previous year.

Augean operates at 11 sites across the UK and handles low level radioactive wastes and naturally occurring radioactive material at its East Northants Resource Management Facility, based at Kings Cliffe.

It also deals with non-hazardous and stable non-reactive hazardous waste at its site in nearby Thornhaugh, at Wansford.

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Profits rise for Peterborough hazardous waste management company