TEG Group's shares rise on waste management contract

Biomass company TEG Group has scored a contact with a major waste management company for organic waste composting at a number of its sites.

Under a six-year deal starting in the second quarter of the year, the company will handle about a volume of waste of about 15,000 tonnes per annum.

Overall revenues are expected to reach £2.0m over the period of the contract.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

"It is very pleasing for TEG to have secured a further long term waste supply contract which further underpins our growing operating business," said Chief Executive Michael Fishwick.

Shares rose 3.85% to 6.75p at 10:08 Friday.

RD