Lancashire-based waste business Recycling Lives has today (7 January) reported a 61% rise in year-on-year sales in the 2017/18 financial year.
The company, which comprises national waste management, WEEE recycling, car salvage, compliance and recruitment businesses, also has its own associated charity and social enterprise of the same name.
In financial results published today, the group reported that it had made sales of more than £75m in the 2017/18 financial year, growing from £46.5m in 2016/17, and £31.7m in 2015/16.
It also reported a 76% rise in EBITDA [earnings before interest, tax, depreciation and amortization], to over £10.5 million.
The figures follow the ongoing national expansion of the Group, headquartered in Preston, Lancashire, which operates from 11 sites nationwide.
Recycling Lives claimed that the company opened four new recycling sites in the financial year and grew its team by 51% in 2017/18.
The year also saw the company pick up the Recycling Business of the Year award at the 2018 Awards for Excellence in Recycling and Waste Management, which was organised by letsrecycle.com (see letsrecycle.com story)
Commenting on the results William Fletcher, chief executive of the Recycling Lives Group, said: “We’re really proud to share our latest annual accounts, showing our ongoing growth which is fuelled by our unique model combining business and charity.
“For every commercial contract we deliver we also create social impact. Each of our businesses supports the delivery of our social programmes, allowing our clients to report real social value, as well as environmental and financial value, from their contracts with us.”
Recycling Lives describes its business model- of combining business and charity, as unique. The company has 40 years’ experience in the sector but moved to the charity model 10 years ago.
The company’s charity – which involves residential accommodation for the homeless – is sustained financially by its social enterprises – the HMP Academies, Food Redistribution Centre and community cafes. Its waste management businesses support both the charity and social enterprise.
Recycling Lives added that its social programmes also grew in 2017/18, including its offender rehabilitation programme, which opened in three new prisons to help prisoners learn new skills, and its food distribution programme, which provides affordable quality food to those who need it.