Report highlights successful year for Reconomy
The Chartered Institute of Waste Management (CIWM) has published its annual report on the top 20 waste and resource management companies operating in the UK, based on revenue. Prepared by Catalyst Corporate Finance, the report revealed that over the last 12 months Reconomy has climbed two places on the list, from 17th to 15th.
Reconomy reported impressive revenue growth during the 2015-16 financial year, rising from £65.3million to £82.4million – a 26 percent increase. Collectively all 20 companies on the list reported revenue growth to £6.44billion during 2015, a rise of 1.9 percent over the previous year.
Reconomy’s growth has been attributed to continued expansion within the UK construction industry together with business acquisitions made over the last year. In July 2016 Reconomy further added to its growing portfolio of businesses, following the acquisition of Cory Environmental’s National Waste Brokerage Businesses, consisting of UK Nationwide Skip Hire Limited, trading as Skippy Nationwide, Skips @ Home Limited, trading as Skip Hire UK, and Cory Environmental Recycling Services Limited.
Paul Cox, Managing Director of Reconomy, said: “Reconomy is continuing to grow at a phenomenal rate. We are pleased to have climbed from 17th to 15th and our sights are firmly set on breaking into the top 10 as soon as possible. We have set a realistic ambition of reaching £200million turnover within the next three years.”
The list of the UK’s top 20 waste and resource management businesses is compiled using financial statements filed at Companies House, participants’ relevant stock exchange information, or data submitted directly to Catalyst Corporate Finance.