Profits soar at FCC

Spanish conglomerate FCC Group has reported a substantial increase in net profit of 64% in the second quarter of 2017, with the UK accounting for 13.9% of revenue.

The 64% figure compares to the first quarter of the year and was reported yesterday by the group in its latest set of results. Overall the group reported that profits in the first half of 2017 stood at 56.5 million Euros, an increase by 3.1% year-on-year.

In the UK, the FCC Group runs waste management and energy from waste plants under the FCC Environment brand.

The Spanish owned company has five divisions in construction and services operating around the world.

Mention is made of the UK in the results and the annual report published earlier last month. The group notes that in the UK it has nine plants “reusing and obtaining energy from municipal solid waste”.

Energy from waste

The results note that in the first half of 2017, FCC opened its ninth energy from waste plant to serve Worcestershire and Herefordshire. The complex – built by Mercia Waste Management which is 50% owned by FCC – can process up to 200,000 tonnes of waste per year.

And the group has also highlighted the value of its operations in Scotland, where FCC has begun development work for the Energy from Waste plant for Edinburgh and Midlothian, “which has an associated value of 511 million Euros” (£456 million).

Stronger

Commenting earlier this year announcing the group’s annual report, the Chairperson of FCC Group, Esther Alcocer Koplowitz said: “…FCC is now much stronger than ever, and we have an outstanding position from which to address the challenges brought to us by these new times, with the confidence of having known how to evolve as a Group, having been able to reinvent ourselves by adapting to the new management models required by society and the market”.

The post Profits soar at FCC appeared first on letsrecycle.com.

Source: letsrecycle.com Waste Managment