Sales rise for Alex Smiles at its new centre

Oct 1 2010 by Peter McCusker, The Journal

A RECYCLING and waste management company has increased sales after investing £5m in a new facility and with revenues on course to rise again this year it expects to return to the black.

Results recently published by Alex Smiles show revenues came in 10% ahead of expectations at £8.5m with these being helped by the opening of its new recycling centre.

Based in Sunderland, the business processes and disposes of waste materials as well as hiring skips. Its customers include the construction industry, councils and manufacturers.

With £2m of support from Lloyds Bank, it invested £5m in a materials recycling facility which opened last year, and the company has since secured contracts to employ additional staff bring employee numbers up to 112.

Stuart Smiles, director of the family-owned firm, said: “Trading conditions have been difficult during the recession and everyone has wanted work done for nothing.

“This, along with our decision to invest during the downturn, has affected the bottom line but our bank has been very supportive.

“Revenues for the last financial year were up on what we expected on the back of contract wins and the opening of the new recycling centre, which has allowed us to compete for, and win new work.”