Thornton Waste Disposal revenues up 10% to €78m

Pre-tax profits at Thornton Waste Disposal, one of the country’s largest waste management and recycling companies, fell by 27% to around €4m last year.

According to accounts lodged by the Dublin-based Padraig Thornton Waste Disposal Ltd, the company posted a 10% increase in revenues to €78.1m.

However, the directors in the accounts said the company’s 2018 profitability had improved because the previous year’s profits had been boosted by the proceeds from a land sale.

“This improved result is necessary for the company to continue its ongoing investment in ‘best available technology’ and techniques, facilities, and businesses,” they said.

Weak commodity prices for paper, plastics, and cardboard in 2018 meant overall revenues from recyclables fell by €1.4m year on year.

The directors said that the “fall in revenues necessitated a price increase to customers”. On the risks facing the company, the directors state that the global recycling market has not recovered since its collapse in January 2017 and prices for recyclable material continue to be weak.

Staff numbers increased by 25 to 473 people last year and staff costs increased from €18m to €20m. Paul Thornton and Shane Thornton sit on the board and directors’ pay fell from €309,559 to €290,974.

Its insurance bill rose 8.5% to €698,436; fuel costs increased by 16% to over €3.4m; and its road tax bill increased from €114,393 to €120,613.