WITH the consumer society in danger of sinking under an avalanche of designer waste, there is general recognition that the jetsam of prosperity must be processed using methods other than traditional landfill. The debate tends to raise more noxious hot air than that found in the average dump, with each new proposed landfill site raising the hackles of vociferous not in my backyard pressure groups. Such heightened public consciousness brings a smile to the corporate face of companies like Powerscreen International, which has built a profitable business from the design and manufacture of heavy duty plant for waste handling and processing.
The Dungannon based company manufactures screening, crushing and recycling equipment and sells its machines on world markets. Powerscreen, employing 1,000 North and South of the Border, produced strong preliminary results this week, reflecting another successful year's trading. Pretax profits surged 24 per cent to £36 million sterling on a 33 per cent increase in turnover to £261 million. Chief executive Slay McKeown attributed the good results to the group's success in enlarging the geographical spread of its business. Further sales potential is seen in both the Far East and the US.
Advance orders are said to be ahead of last year in each of its three operating divisions. Further earnings growth is anticipated this year, with analysts expecting profits in the region of £42 million. For shareholders total dividend rises 13. 6 per cent to 98.2p a share, well supported by earnings per share of 30.5p, a 22 per cent improvement.
