Warrington-based metal recycling giant European Metal Recycling (EMR) saw its profits jump in 2010 to £155 million.
The company, which is owned by the Sheppard family, saw turnover increase from £1.8 billion in 2009 to £2.4 billion in 2010 with profits up from £91 million to £155 million.
In a directors’ report that accompanied its accounts, it said: “2010 saw a return to more favourable market conditions from those experienced in the latter part of 2008 and the beginnings of a recovery noted in 2009.
“The difficult economic conditions in Europe and the USA have deflected attention from the stronger performance of a large proportion of the world, with parts of Asia, in particular recording strong growth throughout the period.
“EMR with a geographical footprint in, and export capability from the UK, USA, Holland and Germany was able to take full advantage of the opportunities such international markets represented.”
In June last year, the company bought Staffordshire business Arthur Wright and Sons for £1 million. Last year also saw it expand its US operations buying Toys Scrap and Salvage for £12.3 million and International Shipbreaking for £16.8 million.