The West

Tox Free lifts profit by 33pc

UPDATE 1.50pm: Shares in Tox Free Solutions were higher after the waste management firm lifted its first-half profit by 33 per cent to $10.5 million.

The result was achieved on revenue of $131.6 million, up 43 per cent on the previous corresponding period.

Underlying profit was up 37 per cent to $10.8 million.

Tox Free said its first-half was focused on integrating the new businesses it had acquired in the 2012 financial year.

"The best performing areas during the period were from our divisions linked to the resources sector," the company said.

Its hazardous waste division lifted revenue by 95 per cent to $30.8 million, waste services revenue was up 55 per cent to $65.4 million and industrial services was up 4 per cent to $35.4 million.

ToxFree said its tender book stood at an all-time high with a number of tenders submitted pending award.

Cash at the end of the period was down 52 per cent to $18.1 million.

Tox Free shares closed up one cent at $3.06 after touching an intraday peak of $3.18.

The West Australian

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