Waste management firm suffers 15% share price dive
The price of Augean shares dropped dramatically yesterday after it indicated that profits would be at the lower end of expectations due to cost cutting exercises and the poor performance of new acquisition Colt.
In a drop of 15.87%, the price of its shares declined by 10.0p, closing at 53.0p.
Yesterday a statement by the Wetherby waste management group said that a recent cost reduction programme was underway which was expected to generate savings of £2m from August.
However this would incur £700,000 in costs and help push... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
