Toxfree sees end to mar­ket down­turn

Pilbara News - - News - Peter Wil­liams

Waste ser­vices provider Toxfree So­lu­tions says the WA mar­ket will have hit bot­tom by the end of this fi­nan­cial year.

The com­pany has turned to the East Coast and non­re­sources mar­kets as rev­enue from the re­sources in­dus­tries has de­clined.

Its $186 mil­lion ac­qui­si­tion of med­i­cal waste com­pany Daniels Health was due to be set­tled last week.

“We ex­pect con­di­tions in West­ern Aus­tralia to con­tinue to re­main chal­leng­ing as the fi­nal stages of the ma­jor re­source con­struc­tion projects in the North West com­plete,” chair­man Robert McKin­non told Toxfree’s an­nual meet­ing last week.

“Up­stream oil and gas ex­plo­ration has also re­duced, which has re­sulted in de­clined vol­umes of waste. At the com­ple­tion of fi­nan­cial year 2017, we be­lieve we will have reached the point where the mar­ket in WA will have reached a sus­tain­able level.”

Man­ag­ing di­rec­tor Steve Gost­low said Toxfree was trad­ing in line with mar­ket ex­pec­ta­tions at the end of the Septem­ber quar­ter.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.