Waste disposal firm returns to profitability

THE Killarney Waste Disposal company returned to profit in 2010 in what it called a very challenging year for the industry.

Pre-tax profits were €478,270 in 2010, following losses of €174,120 the previous year.

The 2009 loss arose due to a large impairment charge of €1,280,900 on fixed asset investment properties, according to accounts just filed by the company.

The company also pointed out that it continues to enjoy a “very high level” of customer satisfaction as in evident from its repeat and growing new business.

Gross profits increased last year from €2.5 million to €3.1m for the year to the end of December 2010.

During the year the company acquired the database rights to customers in another region and the directors believe the increased customer base will help grow the company’s profitability over the next number of years. As a result, the directors believe the company is well placed to manage the business risks posed by the current economic environment and the increased competition.

“The directors continue to monitor the company’s performance with the use of certain key financial and other performance indicators.

“The company’s performance, with respect to the key performance indicators throughout the year, was consistent with expectations and in line with the performance of the other company’s in the industry,” the accounts read.

The directors have indicated their intention to capitalise on any industry shifts by continuing to review and focus their operations accordingly in the future.

Killarney Waste Disposal began operating in 1989 and it is now one the largest waste and recycling collection company for homes and businesses in the south west covering all of Kerry, and since the beginning of 2006 it has extended its services to the west Cork area.

The directors listed in the accounts are Sean and Marie Murphy. Directors’ emoluments increased from €162,399 in 2009 to €188,975 last year, according to the accounts.