Straight plc, the environmental products and services group and the UK's leading supplier of specialist waste and recycling container solutions, is today providing an update on trading ahead of its preliminary results announcement on 31 March 2014.

The Group is pleased to report that revenue is in line with market expectations. Group EBITDA is also anticipated to be in line with market expectations and has held up well in the second half of the year.

In addition, the Group is pleased to report that 2014 has begun well with the award of two major contracts totaling more than GBP2 million revenue. Both of the contracts have been won under the ESPO framework agreement which was announced 13 January 2014. Further significant contracts are under negotiation and the order book is building well and in line with internal forecasts.

The first major contract is a GBP1.4 million contract with Birmingham City Council will supply over 300,000 of the Straight Wheeled Bin Inner Caddy between May 2014 and November 2015, and will take the total sales of this caddy since it was introduced in 2007 to more than two million units. This contract award follows the success of a trial of 17,000 households where the product proved extremely popular with residents. The Wheeled Bin Inner Caddy is a pioneering design introduced by Straight plc, which provides a dual-stream co-mingled collection with no increase in container footprint beyond that of a standard wheeled bin. In this case paper and card will be collected separately from the other mixed recyclables.

The second major contract is with Gravesham Borough Council which has contracted Straight to supply GBP820,000 of various products in 2014 including the Kitchen Caddy and Kerbside Caddy for food waste, wheeled bins and home delivery services. In addition to these two major contract wins, the Yorkshire Purchasing Organisation (YPO) has renewed three framework agreements for a further 12 months, covering recycling containers, compostable liners and steel bins.

In addition to these two major contract wins, the Yorkshire Purchasing Organisation (YPO) has renewed three framework agreements for a further 12 months, covering recycling containers, compostable liners and steel bins.

Jonathan Straight, Chief Executive of Straight plc commented:

"Our focus remains on profitably growing revenues in all of our diverse markets, and our recent contract wins and future pipeline provide a strong foundation for the year ahead. These wins highlight our market leading expertise in the provision of stellar recycling products and we look forward to maintaining momentum in the year ahead.

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