Member Article

Leeds' Straight plc reports increase in profit compared to last years losses

Straight plc, the recycling products and services group based in Leeds has reported an underlying operating profit of £0.82 million, compared to 2012, in which they lost £0.24 million.

Group EBITDA increased to £1.99 million (2012: £0.75 million) however the group also reported a sligh dip in revenue, £26.10 million (2012: £27.82 million)

Commenting on the results, James Newman, chairman of Straight said: “2013 has seen a significant improvement in the trading performance of the Group, which has maintained its market leading position.

“2014 has started well with a strong order book already in place. The Board is confident that it will be able to deliver further profitable growth over the coming year.”

Chief executive, Jonathan Straight added: “At the end of 2012 I said that the foundations of recovery had been laid. At the end of 2013 it was apparent that this statement has proved to correct as a significant improvement has been delivered.

“The considerable momentum created through two years of restructuring is carrying us forward with confidence.”

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