Waste and recycling firm NWH Group has hailed a record-breaking year after reporting increases in both its revenues and profits, writes Peter Brown.
Turnover for the year ending 30 September 2024 rose by 6.4% to £55.6m and pre-tax profit soared by 38.8% to £2.5m (£1.8m).
The group said its robust financial performance was driven by sustained expansion across its trade waste and construction and demolition divisions, as well as from its newly enhanced processing facilities in Newcastle and sites in Midlothian, Glasgow, Dundee, Angus and Edinburgh.
Growth in trade waste was underpinned by improved customer retention and new multi-year contract wins across key commercial sectors such as retail, leisure and manufacturing.
It added that investments in the aggregate wash plant and wood recycling operations delivered strong returns.
Volume growth and margin gains were also achieved through service expansion and increased asset utilisation.
However, NWH Group also said it had been a challenging year following the passing of its long-serving chief executive Mark Williams in October 2023.
He’d led and grew the business throughout the last two decades and his death touched everyone in the business.
It added that under the stewardship of the senior management team, led by MD Gavin Money, the business has continued to build on Williams’ legacy with renewed clarity and resilience.
NWH finance director Nairn Black said: “FY24 has been a year of reflection and progress.
“Despite emotional and operational challenges, we’ve delivered our highest ever revenue and profit figures.
“Our focus on long-term customer relationships, disciplined investment, and operational efficiency has put us in a strong position for the future.”
He added: “With our next three-year strategic plan underway, we aim to further strengthen our market leadership through innovation, sustainability and continued growth.
“We remain committed to our vision of eliminating waste by transforming it into a valuable resource.”
