Member Article

Leeds recycling firm reports major contract wins

Straight plc, the Leeds-based recycling firm, has reported that profits are in line with expectations due to significant contract awards.

The Group report that 2014 has begun well with two major contracts totaling more than £2 million revenue.

Both of the contracts have been won under the ESPO framework agreement which was announced January 13, 2014. Further significant contracts are under negotiation and the order book is building well and in line with internal forecasts.

The first major contract is a £1.4 million contract with Birmingham City Council will supply over 300,000 of the Straight Wheeled Bin Inner Caddy between May 2014 and November 2015, and will take the total sales of this caddy since it was introduced in 2007 to more than two million units.

This contract award follows the success of a trial of 17,000 households where the product proved “extremely popular” with residents.

The second major contract is with Gravesham Borough Council which has contracted Straight to supply £820,000 of various products in 2014 including the Kitchen Caddy and Kerbside Caddy for food waste, wheeled bins and home delivery services.

In addition to these two major contract wins, the Yorkshire Purchasing Organisation (YPO) has renewed three framework agreements for a further 12 months, covering recycling containers, compostable liners and steel bins.

Jonathan Straight, Chief Executive of Straight plc commented: “Our focus remains on profitably growing revenues in all of our diverse markets, and our recent contract wins and future pipeline provide a strong foundation for the year ahead.

“These wins highlight our market leading expertise in the provision of stellar recycling products and we look forward to maintaining momentum in the year ahead.”

This was posted in Bdaily's Members' News section by Clare Burnett .