The North East’s largest independent waste management company, J&B Recycling, has released its financial accounts announcing its third consecutive year of robust growth.
In July 2014, the company received £7.5m investment from BGF, which provided significant development capital for new projects and infrastructure. The investment enabled J&B to undertake major capacity expansion and process optimisation projects across its existing three North East based sites.
J7B has also acquired a fourth site in Washington; Tyne & Wear in 2019, increasing its high-quality developed facilities to a total of 20 acres across the North East.
In 2018/19 J&B processed a total of 165,000 tonnes provided from Local Authority kerbside collected commingled, commercial dry mixed recycling, general waste from local authority and commercial sources and construction, demolition waste streams.
The benefits delivered from the process optimisation team and the investment programme include a 175% increase in process operational capacity at the Windermere Road site and 250% increase in process operational capacity of the dry mixed recycling Baltic Street, all three site operate at a high availability due to a reduction in unplanned downtime of less than 2%.
J & B Recycling also operate their own well-established collections fleet servicing commercial premises collecting general waste and dry mixed recycling bins throughout the North East.
Vikki commented: “The past twelve months have been both an exciting time and a successful one for J & B in what has been a very tough market environment significantly affected by lower commodity prices.”
“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. This is to ensure sustainable employment for our excellent team of people of whom the ongoing success of J & B Recycling relies upon.”
J&B’s strong trading year 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 to £2.7m. The company is on target to increase EBITDA growth to over £4.5m following a number of plant upgrades successfully carried out in 2019.
The recent success for J&B comes in spite of a challenging environment in the recycling market caused by low commodity prices, reduced import of materials to China and continued uncertainty due to current and future economic conditions in the UK.
Vikki went on to say: “We continue to transform as a business by successfully deploying the initial investment we received from BGF, staying focused and by operating at the highest quality, environmental and health and safety standards, which has been confirmed with our latest ISO accreditation, successfully transferring from OHSAS 18001 to the 2018 introduced ISO 45001 new certification.
J&B Recycling currently employs 198 people and operates four recycling sites covering 20 acres located across the North East of England.
For more information on J&B Recycling, go to: www.jbrecycling.co.uk