Bingo Industries Ltd (ASX: BIN) has provided shareholders with hefty returns over the past year and after posting more gains on Wednesday the company is showing little sign of slowing down.
The Bingo Industries share price gained another 5.62 per cent on Wednesday, with the company's share price now trading for about $2.63.
The Bingo Industries share price has taken off since the company listed in May last year, having gained almost 50 per cent.
Bingo, with a market value of around $1.03 billion, is a waste management and recycling company which operates facilities across New South Wales and Victoria.
The company operates recycling centres, provides services associated with cleaning up contaminated soils, operates skip bin services, and disposes of commercial waste, among other functions.
And the recently-listed company looks set to provide tough competition for other ASX waste management providers such as Cleanaway Waste Management Ltd (ASX: CWY) and Tox Free Solutions Limited (ASX: TOX)
Cleanaway Waste Management and Tox Free Solutions have both provided shareholders with returns of around 30 per cent over the past year.
But the Tox Free Solutions share price was performing dismally until news emerged in December that Cleanaway Waste Management had launched a takeover bid for Tox Free.
The takeover offer sent the Tox Free Solutions share price flying.
At the start of December Tox Free shares were going for $2.60 but by the end of the month the price was up to $3.46, gaining 33 per cent.
The consolidated entity would likely prove tough competition for other waste management companies, but Bingo Industries looks to be in good shape.
The company reported a net profit after tax of $32 million for financial year (FY) 2017, up about 112 per cent on the previous year's figure of $15.1 million.
And the company has indicated that it's going to continue on the path of growing profits.
Bingo Industries has forecast a net profit after tax of $40.7 million for FY 2018, which would represent an increase of about 27 per cent on FY 2017's figure.
As such, it appears Bingo Industries' shareholders will continue to clean up.
