And, the Leeds-based company said it has almost doubled turnover on 2004, from 7.4 million to 14 million, for the six month period up to June 30, 2005.
” The successful integration of the two businesses has resulted in an organisation which as a whole is bigger and better than the two parts that made it. “
– Jonathan Straight, Straight plc
Commenting on results, chairman James Newman said the company had made “substantial progress on a number of fronts”. He said the “very creditable performance” was the result of organic growth as well as last year's acquisition of container company Blackwall (see letsrecycle.com story).
Mr Newman said: “This acquisition was completed on 19 January and I am pleased to report that the integration of the Straight and Blackwall businesses is virtually complete. All the key areas of the two businesses – sales, marketing and operations, finance and IT – have successfully been brought together.
“The closure of one warehouse is still to be finalised, and this will be achieved in the next few weeks,” he added.
The company will continue to use the Blackwall brand for its consumer products, it said.
Materials
Straight plc – which listed on the Alternative Investments Market in 2003 – also reported that significant progress is being made in the company's new materials handling division. The division has received its first key orders, totalling 400,000, from key logistic and retail accounts.
Chief executive Jonathan Straight said: “The successful integration of the two businesses has resulted in an organisation which as a whole is bigger and better than the two parts that made it. We have also positioned ourselves favourably in the materials handling arena. These achievements will launch the organisation into its next stage of development.”
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