29 November 2011 – contract win
The company has announced a significant new contract from May Gurney. The contract covers a new waste, recycling and street cleansing service in Bristol and is worth more than £900k. It will commence before Christmas and implementation will continue within a fairly tight timeframe until the end of the first quarter of 2012. May Gurney will introduce a mixed plastic recycling scheme for which Straight will manufacture more than 200,000 kerbside recycling boxes and 68,000 specialist caddies will be supplied for food waste collection.
We had previously suggested that readers should buy below 35p. The shares closed at 35.5p last night, a new 52-week low, so that target was only a fraction away from materialising. However, the latest news should restore confidence and we now see strong recovery prospects. BUY.