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  • BY: Andrew Hore |
  • POSTED: 10/02/2014 |

Recycling containers supplier Straight says that 2013 revenues and EBITDA were in line with expectations. 

This year Straight has been awarded two contracts worth a total of 2m by Birmingham and Gravesham councils and other contracts are being negotiated.

Straight made EBITDA of 1.12m in the first half of 2013. Interim pre-tax profit was 340,000, compared with a loss for the first half of 2012. Net debt was 2m at the end of June 2013.

Cenkos forecasts a 500,000 profit for 2013, rising to 600,000 in 2014. 

At 45.5p a share, up 3p, Straight is valued at 5.23m. The shares are trading on 11 times 2013 earnings.

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