Environmental servies and plastics operator One51 has reported sharply higher after tax profits and revenues for the year to the end of December.
Revenues for the year rose by 10.2% to €276.5m from €250.9m while after tax profits surged over 350% higher to €12.7m from €2.8m the previous year.
One51 said the strong trading performance was driven by its OnePlastics division.
During the year, the company raised €22.6m in new equity from existing shareholders and new investors. It also completed a refinancing deal in January 2015, which resulted in a €75m banking facility being put in place for the next four years.
It completed a deal to sell Irish Pride Bakeries to WHW Bakeries and its Greenore Port joint venture was divested to the Burke Shipping Group.
It also bought a company called Straight, which is currently being integrated with MGB to create a leading UK environmental-waste and recycling container business.
The company's Group CEO Alan Walsh said that today's results are ahead of the company's expectations, while its leverage ratios are now at their lowest levels in its history.
Mr Walsh said the company's strategic goals remain clear - to grow OnePlastics and ClearCircle through both organic investment and acquisition and to continue to manage its investment portfolio to realise further value.
"I am confident that we have both the management and financial resources in place to execute our strategy in the years ahead," he added.
