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Tox Free offers emergency response to chemical spills and environmental incidents as part of its suite of services.
Tox Free offers emergency response to chemical spills and environmental incidents as part of its suite of services.

Waste management firm Tox Free Solutions has declared a maiden interim dividend after posting a bottom line first-half profit of $12.2 million, up 16 per cent on the previous corresponding period.

Underlying profit was up 22 per cent to $13.2 million.

The result was achieved on revenue of $188 million, which was up 43 per cent on the previous corresponding period.

The company will pay an interim dividend of three cents a share fully franked.

Tox Free said each of its service lines performed well during the period.

"Our technical and environmental services division was the best performing service line in terms of margin improvement," the company said.

"We are pleased to advise the integration of Wanless is going extremely well and we are encouraged by the support from Wanless clients and the enthusiasm of both Wanless and Toxfree employees in developing our Total Waste Management capability in Queensland and Tasmania."

Tox Free said it remained focused on organic growth opportunities through award of total waste management and industrial service contracts to blue chip clients throughout Australia.

"The first half of financial year 2014 has commenced well and the company expects we can continue this performance through the remainder of financial year 2014," the company said.

Tox Free shares were up one cent to $3.19 at 9.40am.