Recycling Lives has been heralded as ‘one to watch’ in a national business league table.
The waste and recycling company is named in the annual Sunday Times BDO Profit Track Ones To Watch list.
It is one of ten companies which have shown a good rise in profits in the past and are set to grow rapidly in the future, but whose profit growth falls just short of the main Profit Track 100 league table, highlighting 100 of the fastest-growing businesses in the country.
Recycling Lives, headquartered in Preston with nine nationwide sites, recorded 47% growth in sales and 44% growth in EBITDA in 2016/17. Its operations have expanded rapidly in the last 18 months, opening five new recycling sites, growing its staff team by 22% and winning major contracts with construction, nuclear and utilities businesses.
It also expanded its charity operations, each of which is supported and sustained by the business’ growth. Its Food Redistribution Centre, distributing surplus stock from supermarkets to charitable groups, opened new local collection points, and new HMP Academies, offering work and training to offenders, were opened in two men’s prisons.
Recycling Lives’ managing director William Fletcher said: “It’s fantastic to be recognised in this way for our growth, which we will see much more of in the coming years. We’re proud to be named alongside other reputable companies, a number of whom we are working with to deliver recycling solutions and social impact from contracts.”
Recycling Lives sits alongside other North West firms The Hut Group, Victorian Plumbing and Story Homes recognised for exponential growth in the longer Profit Track 100 list.
The list, published in the Sunday Times on April 8, names fast-growing companies averaging 77% profit growth in the last three years.