J&B Recycling has celebrated record financials for the financial year ending March 2017, reporting a turnover of £15.7m. The company also increased its gross profit by 159% to £2.3m and reported an EBITDA of £1.7m, up 87.2% from 2016.
The company has continued its strong growth into the current financial year. As at August 2017 it is now running at a £4m EBITDA run rate, as the results of previous investment into staff, machinery, process optimisation and a range of new significant contracts have begun to contribute.
Over the last year J&B Recycling has been working to dramatically increase its efficiency and most recently recorded an average of 98% of on-time services across the whole of the business during 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.