Composting plants supplier and operator TEG Group says that its revenues grew significantly in 2010 but they could have been even better without the delay to the fourth Greater Manchester composting plant. This means that the underlying trading loss will be similar to 2009.
The company’s operated plants traded in line with expectations. Construction of TEG’s first Anaerobic Digestion plant at Perth in Scotland started in September and it should be operational by this spring. The pipeline of potential projects remains strong as local authorities try to reduce the amount of waste that goes into landfill.
The cash position is better than forecast. There is also interest from finance providers which are keen to provide cash to finance new facilities.
The 2010 figures will be published in the middle of March.
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