High order volumes boost Straight

ENVIRONMENTAL products group Straight forecast an improved performance on 2009 on the back of improved margins this morning.

The company revealed orders have remained high in the first half of the year with the board expecting the second half of the year to be better than the same period in 2009.

In a trading update Straight said the acquisition of Helesi in March would help it achieve higher margins on its plastic-wheeled bins as sales recover from falls earlier in the year.

The Leeds-based company also reported that more than eight in 10 local authorities have signed up to Straight’s home composting scheme after rival WRAP left the market late last year, giving a significant boost to its retail business.

The statement said: “The Group continues to identify and progress additional opportunities for growth through vertical integration as well as through product and market expansion.
 
“Looking forward, the outlook for the remainder of the year is positive and the board is confident that it will meet market expectations for the full year.”

At the end of June, Straight had cash balances of £1.8m, up £0.2m on the previous six months.