Straight expects to beat expectations

LEEDS-based environmental products and services group Straight today predicted that its performance in the second half of 2010 will exceed expectations.

In the six months ended June 30, underlying operating profit increased from 950,000 to 990,000.

Turnover for the period was 13.2m, down from 17.2m in the same period the year before. The fall in revenue was attributable to a reduction in the sales of plastic wheeled bins at low margins

Hide Ad
Hide Ad

Over the half year, the company bought the UK business and assets of Helesi, a company which specialises in making wheelie bins.

James Newman, the chairman of Straight said: "The group continues to maintain a healthy order book and with the benefit of recent acquisitions, the board is confident that performance in the second half of 2010 will exceed expectations."

Chief Executive, Jonathan Straight added: "We are continuing to perform in line with our stated strategy. The completion of two significant acquisitions has laid strong foundations for future growth and excellent progress continues to be made on all fronts."

Related topics: