Waste firm 'cautiously optimistic'

Clearway Holdings is a group holding company which is parent to three other active companies which are specialists in the handling and disposal of waste materials and the recycling of ferrous and non-ferrous metals.

Clearway Holdings is the parent company of Clearway Disposals and Aughrim Landfill, both registered in Northern Ireland, and Hammond Lane Metal, registered in Dublin.

It has sites in Belfast, Portadown, Athlone and Ringaskiddy (Cork).

The subsidiaries were bought back in 2005 in a deal which, at the time, was worth over £71m and included goodwill of £34m.

The group and its subsidiaries are controlled by shareholders from one family.

Turnover in the last three years has fluctuated sharply.

The large fall in 2009 and the recovery in 2010 are attributed to changes in world metal prices which, in turn, affect the revenue from metal recovery processes. The directors report that they are acutely aware of the instability in the eurozone and world markets.

Nevertheless, they are cautiously optimistic about trading in 2011.

Operating profits have usually been above 10% of turnover, although that is lower than the peak of 16% recorded in 2007.

Significant interest charges have been met each year, reducing pre-tax profits to slightly below the operating profits.

Employment in the group has been relatively stable at over 150 people each year although in 2010 it fell by 3% to an average of 145 people.