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Fri June 25 2021

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Where tha's muck.. there's recycling

22 Jun 16 Construction waste recycling company Reconomy has reported turnover up a third for 2015 and profitability up by a half.

To accommodate its expansion, Reconomy has moved into new offices at Stafford Park, Telford
To accommodate its expansion, Reconomy has moved into new offices at Stafford Park, Telford

Turnover for the Shropshire-based business grew by 34% to £87.4m in 2015. Earnings before interest, taxation, depreciation and amortisation (Ebitda) increased by 55% to £7.7m.

With work in hand, turnover is expected to reach £125m for 2016. New clients picked up this year include Mears Group, Lendlease and Dawnus from the construction sector and – working through facilities management company OCS – car maker Jaguar Land Rover.

During 2015 Reconomy oversaw the disposal of more than three million tonnes of waste, diverting 93% of it from landfill.

Managing director Paul Cox said: “The strong financial growth that we experienced during 2015 is a testament to the hard work of everyone at Reconomy. We are optimistic that we will continue to grow and outperform current expectations for 2016 and beyond. Our ultimate objective is to reach a turnover of £200m within the next three years, which we believe is an achievable goal.”

Growth in 2015 was helped by the acquisition of Countrywide Waste Management, including its subsidiary MT Waste Management, and Kings Lynn based Just Hire, trading as Network Waste.

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