The 20th Anniversary celebrations of the North East's largest independent waste management company, J&B Recycling Ltd, continued as it reported another ground-breaking financial year.
The company this week posted its financial accounts after another year of solid growth and strong investment, which topped £10m in total over the last three years; increasing growth of 19% in gross profit to £2.7m; and resulting in a solid growth in EBITDA of 29% to £2.01m for the trading year to 31st March 2018.
CEO Vikki Jackson-Smith said: “The past twelve months has been both an exciting and successful time for J & B with investment allowing the business to maintain its position ahead of the market and maintain growth, even in periods of difficult global trading conditions. The completion of the first phase of our investment programme has enabled us to withstand these challenging market conditions, which are proving difficult for our competitors.”
The company is one of the few European recycling companies that continues to meet the high specifications to continue supply into the Chinese market with the highest quality materials it produces.
Celebrating its 20th year in business, the company operates from three high quality-recycling sites across the North East, processing 162,000 tonnes of materials from local authority and commercial waste streams with over 200 people working within the company.
Vikki explained: “The key driver in our successful growth has been the adoption of process optimisation across our three processing facilities and our fleet and collection operations. We remain firmly focused on monitoring controls and the clear strategy of driving value from existing operations, improving efficiency, focusing on improved quality and introducing more automation to increase processing capacity within the business.
“This has resulted in confident stability for us as a business as we can ensure the highest quality of materials are produced to meet the strict demands of the international markets, particularly in China, where materials that do not meet the high specification have been banned.
“The company is committed to the professional development of its employees who are successfully delivering our investment programme. Already in the first five months of 2018/19 we are seeing a 100% growth in our EBITDA over the same period in 2017/18, and we are confident of meeting our long term growth aspirations.
“Over the next six months we are investing a further £1m commissioning three expansion projects that will provide the growth of the business into our next financial year 2019/20 and keep J & B as one of the most efficient operators in the region.”