| 11.8°C Belfast

Company Report: Clearway Holdings

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

Clearway Holdings, headquartered in Portadown, is a group holding company whose members specialise in the handling and disposal of waste materials and the recycling of ferrous and non-ferrous metals.

The financial results in recent years have varied significantly. Turnover reached a peak in 2008 at almost £190m and also in 2011 at nearly £155m. Most recently turnover in 2015 fell to £83m. Much of the variation can be attributed to changes in scrap metal prices.

Variations in annual turnover do not necessarily tie in with changing profit figures. Operating profits recovered sharply in 2015 to nearly £3.4m. In the two preceding years an operating loss had been recorded which, in 2013 exceeded £3.4m. Pre-tax profits closely followed the changes in operating profits and reached £2.2m in 2015.

The balance sheet reflects an arrangement to make a provision for the estimated cost of restoring a landfill site which is owned by the group. At the end of 2015 £6.6m was earmarked for this restoration.

Employment in the group in the last five years has increased from an average of 145 employees in 2010 to 185 employees in 2015.

The balance sheet value of shareholders' funds has fallen in the last five years from nearly £95m at the end of 2011 to £87m at the end of 2014 and, more recently, to £84m in December 2015.

Belfast Telegraph