Waste recycling group NWH boosted its turnover by £8m last year amid expansion into the North East.
Turnover at the company jumped 25% during the year ending September 30 2018 to £40.2m, up from £32.3m on the previous year.
The business’ growth has been attributed to the rollout of the firm’s five-year strategy, which underpins the company’s vision to eliminate waste ant turn it into valuable resource.
Key stages of the strategy has involved restructuring the NWH’s team and bringing in a dedicated operations board to oversee the delivery of it core business.
The Midlothian-headquartered firm, which has sites in Gateshead and North Shields, North Tyneside, has benefited from the waste and recycling policies set out by Zero Waste Scotland, which includes targets limiting the amount of waste sent to landfill and minimum levels of recycling.
NWH has also worked to diversify its business so as not to be too reliant on the construction sector.
In response, it has grown its business in other areas such as retail, hospitality and leisure, industrial, manufacturing, and local government.
Mark Williams, CEO of NWH Group, said: “People are our greatest asset and we continue to rely on high calibre employees to deliver our strategy.
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“Having made a number of key executive hires, including a compliance and risk director, as well as expanding our apprentice programme, we are grateful for the contribution everyone has made.
“We are always aiming higher, and another core strand in our growth strategy is acquisitions. We will be continuing to identify opportunities with businesses that are aligned to us, with a strong cultural fit.
“As we move forward, the business will benefit from our recent re-investments, and we have also committed further investment during 12 months ahead including upgrades to systems, customer management technology and larger premises in Newcastle in response to the local demand for services there.”
However, despite the huge growth NWH’s operating profit only increased by £222,000 to £3.66m as the firm’s cost of sales outpaced its turnover. Cost of sales increased by 27% during the year, from £25.9m to £33m.
NWH has expanded over the last year and opened its first base outside of Scotland in North Tyneside. The company is also in the process of building a new facility in Blaydon, on a site previously occupied by collapsed construction firm Owen Pugh.