Profits increase at Indaver to €11.7m
THE Belgian company that this year secured planning permission for a new €173m incinerator in Ireland last year increased its pre-tax profits by 5pc to €11.7m.
In May of this year, Indaver Ireland Ltd secured planning permission for the waste-to-energy facility at Ringaskiddy in Co Cork. It will treat up to 240,000 tonnes a year of residual household, commercial, industrial non-hazardous and suitable hazardous waste.
New accounts filed by Indaver Ireland Ltd show that its waste business here is already very profitable. The pre-tax profits of €11.6m follow pre-tax profits of €11.1m in 2016.
The firm operates an incinerator at Duleek, Co Meath, and recorded the increase in profits in spite of revenues dipping by 3pc from €79m to €77.2m last year. The firm employs 185 people in Ireland and staff costs last year increased from €9.6m to €10.1m. Directors were paid €572,891.