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Augean issues profit warning as CEO leaves
Waste management firm Augean (AUG:AIM) has warned that profits will be lower than previous expectations for the year. It blames a weaker trading performance and the impact of an ongoing HMRC assessment regarding landfill tax.
Chief executive Stewart Davies has left with immediate effect and the board has further reorganised management to reduce costs. It hopes these measures will save £1.7m annually, with a one-0ff cost of around £0.9m. (DS)