North East based recycling and waste management firm J&B Recycling says that investment in its business has helped to drive a third year of financial growth.
The independent waste management company has used a £7.5m investment it received from BGF in 2014 to expand its capacity and optimise projects at its three pre-existing sites. It also opened a fourth facility in Washington in Tyne and Wear this year.
Vikki Jackson-Smith, managing director of J&B Recycling
These projects have seen an 175% increase in process operational capacity at the Hartlepool Windermere Road site, alongside a 250% increase of capacity for dry missed recycling at the Baltic Street site, also in Hartlepool.
J&B delivered a turnover growth of 6.4% to £17m, resulting in a gross profit growth of 18% to £3.2m and a 34% growth in its EBITDA (earnings before interest, tax, depreciation and amortization) to £2.7m. The company believes it is on target to increase EBITDA growth to over £4.5m following 2019’s plant upgrades.
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Vikki Jackson-Smith, managing director of J&B Recycling, commented that the past year had been successful for her company despite a tough market environment affected by lower commodity prices.
She said: “The completion of our investment programme has enabled us to operate efficiently and deliver high quality materials, enabling us to withstand the challenging market conditions, which are proving difficult for our competitors.
“Our focus is not on increasing turnover, but that of driving EBITDA through operational efficiency, better invested facilities and delivery of the highest quality recycled products.”
In 2018/19 J&B processed 165,000 tonnes of waste – provided from local authority commingled kerbside collections, commercial dry mixed recycling, residual waste from commercial and local authority sources, as well as waste from construction and demolition waste streams.
Ms Jackson-Smith noted that as well as financial success J&B had also recently upgraded its quality, environmental and health and safety standards. It has transferred from OHSAS 18001 to the 2018 introduced ISO 45001 new certification.
J&B Recycling was founded in 1998 and now employs over 198 people.
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Source: letsrecycle.com Waste Managment
