Waste oil cleaning services provider Hydrodec says that it will report a record six months of trading in the first half of 2012 and there is scope for further improvement.
Gross margins continue to improve as plant utilisation increases from 55% in the second half of 2011 to 70%. Hydrodec is on course to be cash generative by the end of 2012 even though additional management has added $2 million a year to costs. Further management changes are likely.
Management is investigating further uses of the technology outside of the transformer oil sector. Samples of other oils are being tested. They are also pushing forward the Japanese joint venture.
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