Vikki Jackson-Smith, managing director of J&B Recycling
North East waste management firm J&B Recycling has announced record growth for the financial year ending March 2017, reporting a turnover of £15.7m and an increase in gross profit of 159% to £2.3m.
The company is continuing its growth into the current financial year, and is now running at a £4m EBITDA run rate, as the results of previous investment into staff, machinery, process optimisation have begun to contribute.
Over the last year, J&B Recycling has worked to increase efficiency and has recently recorded an average of 98% of on-time services across the whole of the business over the last six months.
Vikki Jackson-Smith, managing director at J&B Recycling, said: “The past 12 months have been both exciting and very successful for J&B Recycling. On top of our best ever recorded financials, we have also successfully implemented and delivered on our two-year programme of development following our initial investment from the Business Growth Fund.”
In 2014 J&B secured £7.5m from BGF in order to help the company expand its operations across the region and increase its processing capacity across the company’s three sites in the North East.
Vikki said: “This financial year sets us up perfectly to move into the next and continue the growth of the company. Over the past few years we have transformed as a business using our investment to ensure we are working at the highest possible quality, environmental and health and safety levels.”
“Significant operational capacity has also been added across our three sites which is now beginning to be fully utilised.”
Vikki concluded: “Key to our business has to be our people and ensuring they are continuing to develop through our business. We have made a number of in-house promotions and also continued adding to our team, employing 30 new members of staff over the last year.”
Over the next financial year J&B Recycling will continue optimising its operations and commencing with its next phase of growth through new development of new installations or acquisitions.
The firm was also awarded its third Corporate Livewire Award earlier this year, taking away the title of ‘UK Recycling Firm of the Year’ for 2018.