Profits at incinerator firm slump by a fifth
Pre-tax profits at the firm that operates an incinerator at Duleek, Co Meath last year reduced by 19.5pc to €10.1m.
That is according to new figures lodged by Indaver Ireland, which show that the firm recorded the decrease in pre-tax profits after revenues increased by 2pc - going from €79.8m to €81.47m in the 12 months to the end of December last.
The incinerator at Duleek in Co Meath began operations in September 2011.
The firm last year paid €34m in dividends. The firm employs 182 in Ireland and staff costs last year increased from €9.2m to €9.49m.
The directors say the board "will continue to advocate for and invest in Irish infrastructure to make the island self-sufficient in waste processing".
They said an example of this ongoing commitment was the submission of a application for the construction of a waste-to-energy plant in Ringaskiddy, Co Cork - with a decision due on the plan next month.
The directors said the local community fund associated with the waste-to-energy facility in Carranstown, Co Meath continues to grow in line with the performance, with the 2015 accrual for the community fund at €288,000.
The profit last year takes account of non-cash depreciation and amortisation costs of €11m. The Indaver group was last year purchased by Belgian group, Katoen Natie.
It has facilities in Belgium, Germany and the Netherlands and manages five million tonnes of waste per annum.