Waste container supplier Straight has revealed an 11% increase in revenue for the year ended 31 December 2009 in its preliminary results.
Group turnover has risen to £28.3 million up from 2008s figure of £25.4 million.
Straight chief executive Jonathan Straight said: I am delighted. I think we worked very hard in 2008 to fix problems in 2007 and 2008, so 2009 has been a great year for acceleration and growth.
According to Straight, demand for food waste containers has seen sales grow by £1.8 million. But after a strong start in 2009 wheeled bin sales dropped off due to Straights difficulties procuring suitable bins to fulfil ongoing customer demand. However, the firm hopes the recent acquisition of bin manufacturer Helesis UK business will mean increased margins and its first own-brand wheeled bin range.
Straight commented: It is something we desperately needed.
The idea is that we are a one-stop-shop for our customers. We are giving customers what they actually need. Were an innovative business that has lots of products in development, which we havent announced yet, so watch this space.
Still one of the leading firms in the municipal waste container business, Straight has been expanding its retail branch. It has become the sole provider of home composting products and services on the Eastern Shires Purchasing Organisations contract, which replaced the Waste & Recycling Action Programmes initiative, providing local authorities with subsidised home composting bins. Straight now has 70% of English districts on its books.
Looking ahead, the firm is confident 2010 will be a strong year, experiencing a record order book at the start of the year.