Straight delivers "excellent" full year results

Revenue increased by 11 per cent to 28.3m and the headline operating profit rose to 1.6m from 400,000 last year.

Profit before tax was 1.6m compared to a loss of 1m in 2008

The company said it had a healthy order book and it also declared a final dividend of 0.7p

James Newman, the chairman of Straight, said: "I am delighted to report excellent results for 2009, a year in which the group transformed its performance. Straight continues to lead in all of its core markets and is making good progress in broadening both its product and customer base."

Jonathan Straight, the chief executive of Straight, added: "In March 2009, we forecast a successful year. I am pleased to say that the many difficult decisions taken late in 2008 proved to be the correct ones and we have a reinvigorated business. The outlook for 2010 is positive.

"We had a record order book at the start of the year and a strong pace of order intake has continued since January. We are the leading player in many of our markets and where we do not lead we have the resources and capability to do so in the future."

Earlier this month, Straight bought the bulk of waste company Helesi's UK business for 1.65m in cash.

Straight said the deal will give it its first branded wheelie bin.

Both companies expect to work together on the development of new products using Straight's expertise and Helesi's technical know-how.

Straight said the opportunity came up to buy the majority of Helesi's UK business after the Greek company decided to stop manufacturing in the UK and move to Northern Greece and Italy.