The results for the year ending 30 April 2022 show that after tax, Heathcote Holdings posted a profit of £22.6 million.
However, the report shows that £15M of this profit “arises from a one off disposal of a non-core/non-waste subsidiary”.
For the main operating subsidiaries within the group, underlying profits fell slightly, including a reduction in profitability at Countrystyle Recycling which posted profits of £2.5 million for the year, down from £4.8 million the previous period.
Countrystyle took over the Bexley Street Services contract in October 2021 (see letsrecycle.com story).
Investment
The group said it invested a further £28 million during the year on assets across all activities ensuring replacement of aging equipment and adoption of the “latest environmental protection technology to reduce carbon emission impact”. This level of investment “further reinforces its commitment to the recycling sector,” the company said.
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