Weak balance sheet for Norwegian recycling

Survey finds majority of recycling firms loss making; most profits due to consultancy work

At least half of Norway's numerous recycling companies are operating at a loss, according to a newspaper survey. Of about a dozen companies investigated by the national daily Nationen, only five showed profits in the most recent accounting periods for which figures were available. Several companies attributed much of that profit to consultancy activities, as opposed to resale of recycled materials.

One of the largest and oldest, Norsk Gjenvinning, was also the most profitable, with pre-tax results of NKr47.1m (euros 5.8m) in 1998. Its nearest rival, Ragn-Sells, showed only NKr666,000 profit in 1998, although that figure increased to NKr6.5m last year. The three largest losses averaged NKr13.1m.

Follow Up:
Nationen, tel: +47 22 17 41 00.

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