Mercury eyes flat screens as profits jump

MERCURY Recycling, which recycles fluorescent light tubes and sodium street lights, has its sights set on flat screen TVs.

The Manchester business, which unveiled strong annual results today, is conducting a feasibility study into the recycling of plasma TV and computer screens which contain hazardous mercury that must be removed.

These increasingly popular screens will account for around 200,000 tonnes of hazardous waste every year, according to the company.

Mercury said today that its study would position the business as a leading player in a major emerging market.

It also expects the move away from conventional, non-hazardous light bulbs to mercury-containing energy efficient models will open up “vast new markets with exciting opportunities”.

Its existing market of fluorescent tubes and street lights still has potential with the company estimating that 80 million lamps, out of a total market of 130 million are not being recycled.

Sales at the Trafford Park group rose 15.7% to £3m in the year to December 31. Pre-tax profits jumped 20% to £534,200.

Chairman Lord Barnett said: “In the current economic climate these results are highly satisfactory. Our balance sheet shows a strong position, which will ensure that we are able to keep the group moving forward.

“The current year has started well and sales in the first three months of 2009 are in line with management’s budget.”