11/08/2008 - 12:10

Tox Free reports 56% lift in earnings

11/08/2008 - 12:10

Bookmark

Save articles for future reference.

Nedlands-based waste management company Tox Free Ltd has reported a 56 per cent jump in earnings for fiscal 2008 as it opens its first waste facility in New South Wales.

Nedlands-based waste management company Tox Free Ltd has reported a 56 per cent jump in earnings for fiscal 2008 as it opens its first waste facility in New South Wales.

The company today said it had achieved a earnings before interest, tax, depreciation and amortisation of $14 million, up from the previous year's $8.95 million.

This year's earnings figure was on the back of revenues reaching an unaudited $34 million, up 67 per cent from last year.

The company had previously forecast earnings for the 2008 financial year to reach $13 million.

"All divisions performed above budget with significant growth achieved in our industrial services and liquid waste divisions," Tox said in a statement.

Further details from the financial details of the year's financial results will be released later this week.

Meanwhile Tox has opened its first NSW waste management facility, which will complement the industrial services already offered by Barry Brothers Specialised Services Pty Ltd.

The facility, including land purchase, was acquired for $2.2 million and Tox expects the facility to return earnings of $1 million during its first year of operation.

Last month, Tox acquired Barry Bros from Programmed Maintenance Services Ltd for $25 million.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options