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The Environmental Products and Services Group, and the UK’s leading supplier of specialist kerbside recycling containers issued a positive trading update for the six months ending 30th June 2010. Underlying Group profits are expected to be similar to those for the half year to June 2009 and the order book remains at the same high levels as at the beginning of 2010.

The environmental products and services group issued as very positive trading statement today ahead of its AGM, giving the shares a welcome boost ahead of the holiday weekend.

The environmental products and services group has announced that it has been named as one of four successful bidders for a framework agreement to supply plastic wheeled bins to the Eastern Shires Purchasing Organisation (“ESPO”) and the Central Buying Consortium (“CBC”).

The environmental products and services group announced outstanding Preliminary Results for the year ended 31 December 2009.

The environmental products and services group has announced the acquisition of the business and certain assets relating to the UK manufacturing operations of indebted AIM peer Helesi plc (AIM: HLS), a fellow supplier into the waste management industry. The total consideration of £1.65m in cash will be spread over a number of months.

The environmental products and services group has announced that it has been awarded contracts by four local councils in England to supply kitchen caddy food waste containers and compostable food waste bags worth a total of £1.3 million.

An excellent set of interim results with cash flowing through, considerable potential in overseas markets and the interim dividend lifted.

Straight could be a big beneficiary of the Government agency WRAP’s (Waste Reduction Awards Program) decision to withdraw from the English home composting bin market. Interim results will be announced on 29th September.

First half results ahead and cash balances also up

Shares in the recycling products and services group have had a good run since the beginning of 2009 reflecting the cash generative attributes of the business, its attractive dividend yield and strong market position.  The AGM statement on 1st June confirmed that it was confident of meeting half year expectations with the strong trading performance in the fourth quarter of 2008 having continued into the start of 2009.