Sales heading towards £800m at Newcastle company

Sep 3 2009 by Peter McCusker, The Journal

ENVIRONMENTAL support services group Eaga has posted record results and is set for further growth, with sales expected to top £800m and profits expected to be over £50m in the current year.

This growth will lead to further job creation after it added 300 North East employees to its payroll in the last year.

The Newcastle company is benefiting from Government initiatives to reduce carbon emissions – an area which is expected to escape looming public spending cuts.

For the 12 months ending May this year, Eaga posted record sales of £739m and pre-tax profits of £47.5m, which is up 16% and 24%, respectively, on the previous year’s performance.

Chairman Charles Berry said: “The 2009 results demonstrate the group’s ability to deliver continued strong growth, despite difficult economic conditions.

“The secured sales order book delivers strong revenue visibility for 2010 and Eaga continues to be well positioned in its core markets, which offer positive and sustainable opportunities for further growth.

“The board is confident that Eaga will continue its growth, extend its successful track record and make further significant progress.”