LONDON (ShareCast) - Quarrying firm Water Hall has performed better than expectations as demand for landfill remains strong.
Pre-tax profit rose to £771,000 in the year ended 31 December 2006 from £369,000 previously. The group’s turnover increased to £8.8m from £7.2m in 2005.
Infilling at the group's void space reserves at Southfield Wood has effectively been completed and demand and prices for the Bunkers inert waste landfill remain strong. Water Hall expects the Bunkers' landfill operation to continue for approximately five years although the remaining gravel extraction will be completed shortly.
“The board's strategy is twofold: firstly to focus on cash generation thereby further strengthening the group's balance sheet and secondly that of making an acquisition or investment that meets its criteria and provides long term shareholder value,” the firm added.
