Tuesday, January 7, 2014

News: Export levels maintained at C.F. Booth

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Rotherham-based, C.F. Booth, one of the largest independently run recycling companies in Europe, maintained high levels of exports for 2013 but profits were hit by lower metal prices and the weak Euro.

The company specialises in metal recycling and metal ingot manufacturing of both ferrous and non ferrous metals for UK import and export.

Established in 1920, the family firm has grown from its beginnings as a local metal trader and sustained investment in staff, technology and equipment enables C.F. Booth to be at the forefront of the industry, able to meet the ever growing global demand for recycled metals.

An extensive range of services includes specialist forms of scrap metal recycling and the trading and processing of all grades of ferrous and non-ferrous scrap.

In its financial results for the year ending March 2013, C.F. Booth reported that group turnover was £262.7m, a reduction from £273m in 2012, mainly due to lower metal prices.

In 2012, C.F. Booth won the Queen's Award for International Trade for an outstanding performance over the previous three years. Sales from overseas in 2013 was an impressive £140m with the group reporting that exports have been maintained at a high level but the weak Euro made sales to Europe less competitive.

The fall in prices reduced the group's working capital requirement and cash generated by operations enabled the group to invest in new plant and reduce net debt by £1m.

Operating profit fell from £3.8m in 2012 to £3.1m in 2013 (similar to 2011 levels) with the directors considering the results to be satisfactory.

With 360 employees, its Clarence Metal Works on Armer Street is thought to be the largest scrapyard in Europe and the firm is managed by Booth brothers Ken and James.

Former director, and the man that helped to make the company what it is today, Ken Booth Sr. died last summer, aged 91.

C.F. Booth website

Images: C.F. Booth

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