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Mercury Recycling

  • BY: Andrew Hore |
  • POSTED: 09/05/2008 |

Mercury Recycling’s profits soared in 2007. 

The company recycles lighting and other products containing mercury. Sales rose 10% to £2.65m in 2007. Pre-tax profit jumped from £84,000 to £445,000. Earnings per share quadrupled to 1.09p. Net cash was £110,000 at the end of 2007. Since then £1.1m has been spent on Envirolite.

Trading might have been stronger if it hadn’t been for the late implementation of the WEEE Directive in July 2007.  Mercury reckons only 30% of lamps are recycled and it is now illegal to put them into landfill. This provides a positive outlook for the business but there may be price pressures.

Envirolite will widen the geographic base of the group in the South, Midlands and Scotland. It should be earnings enhancing in the current financial year partly thanks to cost savings. Envirolite made profits of £248,000 on sales of £1.06m in the year to March 2008.

The shares jumped 6.25p to 25.75p following the results announcement. Mercury is valued at £8.63m.

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