One of the UK's leading recycling companies, The NWH Group (NWH Holdings Limited), has reported turnover of £41.7m for the financial year 2021, an increase of 28% on 2020.
The strong trading performance is attributed to a combination of factors underpinned by the continued robust, post-Covid recovery. There has been a substantial number of new customer wins contributing significant recurring revenue boosting sales. The improved margins were largely driven by the new recycling equipment at the firm's Edinburgh facility.
Additionally, the acquisition and integration of the business and assets of J&J Stanley expedited the growth of the Group's Newcastle operations through a combination of increased capacity from a larger site and additional plant and equipment suitable for scalable processing.
The business has continued to feel the impact of the pandemic and the subsequent level of uncertainty within the UK economy. The well-documented national driver shortage has also affected growth as well as causing disruption to the supply chain of both the business and its customers.
Building on the progress made in 2021, the focus for 2022 is delivering growth through continued increase in sales and margin improvement. The main drivers will be the full year benefit of both the revenues acquired in 2021 and the enlarged Newcastle operations as well as more efficient waste and aggregate processing across the business.
Mark Williams, CEO at The NWH Group, said: "Despite what the world has thrown at us throughout the past two years, we've adhered to our strategy and are in a strong position to deliver on our business objectives for the year ahead.
"We've continued to invest significantly, and now run one of the most advanced aggregate recycling facilities in Europe, if not the world, right here in Scotland. We're on a mission to change our industry for the benefit of the planet, and this puts us in a strong position as we all work towards our net-zero targets."