Recycling group posts recession-beating results

by Search Gate staff. Published Thu 26 Mar 2009 09:10
Chief executive Jonathan Straight posts strong results

The UK’s leading recycling products firm has reported a strong increase in trade despite tough market conditions and a collapse in the value of the domestic recycling market.

Whilst the group’s sales overall were up eight percent to £25.4million, revenues from the company’s core trade business actually increased by 20 percent to £23.1million.

Jonathan Straight, chief executive of Straight, said: “As a result of the actions we have taken the business which has emerged from 2008 is reinvigorated and is both profitable and cash generative. The Board is confident that 2009 will prove to be a successful year.”

During the year, the group has continued to develop overseas sales channels in Australia and the United States and has a record level of orders.

James Newman, chairman of Straight, said: “The Board is encouraged by its record order book. This, combined with the cost reductions achieved as a result of the strategic review, has put the business in excellent shape to capitalise on its unique market position.”

Straight was launched by Jonathan Straight in 1993 as a one-man operation to supply containers for source separated waste. It has grown to become the UK’s leading supplier of kerbside boxes as well as waste and recycling containers.

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