Rising sales have pushed turnover past £2.2bn at family-owned metal recycling giant EMR, one of the North West’s largest companies, with group chief executive Chris Sheppard telling Insider that the group is “very optimistic for the future”.
The company’s turnover has climbed to £2.22bn in the 2016 calendar year, according to European Metal Recycling’s latest set of accounts. This increase, which represents a 10 per cent year-on-year rise, was driven by a growth in sales volumes.
Underlying operating profits jumped to £94m from £7m a year earlier, while underlying EBITDA climbed to £138m from £43m.
The group has also made provisions against the carrying value of certain historical fixed asset investments and amounts due from associated undertakings, joint ventures and third parties. The total value of these one-off provisions in the 2016 calendar year was £221m.