EnviroWaste profit rises 17pc

Photo / The Aucklander

Waste management company EnviroWaste Services increased its profit by 17 per cent in the year to June, despite "difficult trading conditions".

EnviroWaste, owned by Australia-based private-equity firm Ironbridge Capital, said its earnings before interest and tax rose 17 per cent to $25.9 million from the previous year.

Its revenue rose to $133.4 million from $110.3 million.

Ironbridge's New Zealand operating partner, Kerry McIntosh, said EnviroWaste won contracts this year from the Dunedin and Wellington City Councils to collect refuse and recycling. Contracts with Auckland City Council, Manukau City and Franklin District were renewed.

It had also been contracted to dispose of contaminated soil from Auckland's Victoria Park Tunnel project, McIntosh said.

It had added two more landfill gas-fired electricity generation engines at Hampton Downs landfill in Waikato.

That took the total to four engines on the site with the capability to supply the power needs of 3200 households.

- NZPA