The North East’s leading independent waste management firm, J&B Recycling, is set to deliver record results following another year of significant investment over the COVID-19 lockdown period.
J&B Recycling, which was founded in 1998 and today employs 220 people with four sites across the North East, received a £7.5m investment from the Business Growth Fund (BGF) in 2014 and is set to release its results for the year ending 31 March 2020.
Despite a challenging year for the whole waste sector due to the downturn in material prices and the run up to Brexit J&B’s turnover was up 9% to £18.5m, with gross margin up 6% to £3.4m resulting in EBITDA of £2.7m, as the company continued to invest heavily in its expansion programme.
This trend has continued as Vikki Jackson-Smith, CEO at J&B Recycling, said: “Following on from the challenges posed by Brexit, the past 12 months during the pandemic have been successful for J&B as we continued our annual programme of capital investment aimed at increasing capacity through automation to continue to deliver the highest quality recycled materials in the market.
“We are now set to better 2020 and deliver record results for our year ending 31 March 2021, with turnover increasing by a further 7% to £19.7m and EBITDA by 26% to £3.4m, driven by the completion of our expansion program and the filling of our extra capacity in December 2020.
“The completion of this round of our expansion 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.”
The company specialises in the collection and processing of co-mingled recyclables from a number of local authorities, commercial recyclables, general waste from both local authorities and commercial sources plus construction and demolition waste.
Vikki Jackson-Smith added: “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.”
For more information on J&B Recycling, go to: www.jbrecycling.co.uk.