Leading metal recycling company S. Norton & Co has posted profit this year following a loss in its previous financial year.
Annual profit increased by around 40% for the year 2016, equalling a total of £205 million up from the 2015 figure of £147 million.
The family owned company’s turnover was helped by rising prices.
S. Norton & Co began trading with more countries than in the previous year given the uncertainty of the EU referendum. It hopes to maintain this expansion across the world.
With the firm having a five-year plan, it hopes to continue the company’s growth into 2017. It has already invested in plant, cranage and associated site works of more than £10 million in London, it also plans to invest in similar work in Liverpool, Manchester, Southampton and London sites.
In trying to maintain its leading status, the company will be strengthening its equipment and IT systems as well as expanding its compliance team.