Tees-based J&B Recycling – crowned Company of the Year in the inaugural Tees Businesswomen Awards – has posted healthy profits thanks to a successful long-term investment and development programme.
The company has now completed its four-year investment programme, which began in 2014, thanks to a £7.5m investment from the Business Growth Fund (BGF).
Vikki Jackson-Smith, managing director of J&B Recycling – pictured above (left) with Michelle Petty from award sponsors Cornerstone Business Solutions at the 2018 Tees Businesswomen Awards – said: “Thanks to this investment, J&B has been able to undertake significant infrastructure and processing projects which have resulted in the increase of capacity and development of a new facility at our Baltic Street site, the development of infrastructure at our South Tees facility and, as of August 2019, the acquisition of a new waste transfer station in Washington.”
In 2018/19 J&B successfully collected a total of 165,000 tonnes of waste with a significant increase over the last year.
During this period J&B Recycling has also increased the operational capacity of its Windermere Road site by 175%, equalling 120,000 tonnes per year, and has also increased its operational capacity of dry mixed materials by 250% to 25,000 tonnes per year.
The Hartlepool-headquartered company specialises in the collection of co-mingled recyclables from a number of local authorities, commercial dry mixed recyclables, general waste from both local authorities and commercial sources and construction and demolition waste.
Vikki continued: “J&B Recycling is focused on delivering growth in gross profit and to outperform the waste industry market place by operating EBITDA well above the industry average.
“Our focus is not on increasing turnover, but that of driving EBITDA by better efficiencies, better invested facilities and delivery of the highest quality recycled products.”
J&B’s strong trading year delivered a turnover growth of 6.4% to £17m, gross profit of 18% to £3.2m and a 34% growth in its EBITDA to £2.7m.
The recent success for J&B comes in spite of a challenging environment in the recycling market caused by low commodity prices, reduced import of materials to China and continued uncertainty due to current and future economic conditions in the UK.
Vikki added: “J&B has continued to perform well thanks to a sustained focus over the past four years on material quality.
“We continue to transform as a business by successfully deploying the initial investment we received from BGF and by operating at the highest quality, environmental and health and safety levels.”
J&B Recycling currently employs 198 people and operates four recycling sites covering 20 acres located across the North-East.
Recently the company has also achieved its latest ISO accreditation with introduction of the Occupational Health and Safety focused ISO 45001.