Secure IT recycling company Vyta has reported higher revenues for last year on the back of strong demand for its services.
Vyta said its group revenues reached €18.2m last year, up from €8m the previous financial year.
It said the significant revenue growth was driven by strong, increased demand for its services as well as a market consolidation strategy which saw Vyta buy UK-based IT asset disposal (ITAD) company FGD last year.
The company said that recent research has found that 40% of ISEQ 20 companies now have an ESG or sustainability committee.
The wider enterprise market is behaving similarly, with ESG now being embedded in their long-term business strategies as both customers and investors demand it, it added.
By securely refurbishing and reselling retired IT equipment, Vyta said it supports these efforts by enabling enterprises to extend the life of their decommissioned IT assets, ensuring they stay in the circular economy.
The increase in demand has been coupled with the company's expanded geographical reach, enabling it to provide services to any organisation based in the UK or Ireland, while also providing services to businesses elsewhere in Europe.
Philip McMichael, CEO and co-founder of Vyta, said that sustainability has become a key motivator for organisations today.
"They are being held to very strict sustainability targets and their bottom line depends on it, as an increasing number of businesses and customers will not to buy from those who do not prioritise sustainability," Mr McMichael said.
"We expect that Vyta will continue to grow as we fulfil our ambition of being the largest ITAD in Europe," he added.
