The Cleanaway Waste Management Ltd (ASX: CWY) share price rose 13% today after the company reported.

Cleanaway is Australia’s largest waste management business that deals with many types of waste including general waste, recycling, industrial services, construction & demolition waste and medical waste. Cleanaway has been operating for more than 50 years.

What Cleanaway Reported

In statutory terms, Cleanaway grew net revenue by 47.4% to $1.06 billion. EBITDA increased by 43.2% to $220.8 million (click here to learn what EBITDA is).

Net profit after tax (NPAT) increased by 35.1% to $60.8 million and earnings per share (EPS) grew by 11.1% to 3 cents per share. The company said that underlying EPS actually increased by 26.9% to 3.3 cents per share.

This good result gave the Cleanaway Board confidence to grow the interim dividend by 50% to 1.65 cents per share.

Cleanaway CEO Vik Bansal said: “While margins have improved compared to the second half of FY18, we believe that further improvements can be achieved as we continue to implement synergies and operational improvements across every one of the segments and businesses within the Company.”

Cleanaway’s result was certainly impressive and it could be one to keep watching over the next couple of years. I like that it seems to have defensive earnings – we all keep throwing things away every week.

Cleanaway isn’t the only business growing profits impressively, the ASX shares in the free report below are also growing rapidly.

After searching through a market with over 2,000 shares, our lead expert investment analyst has narrowed it down to just 2 of his favourite rapid-growth shares in a FREE report to Rask Media readers.

Over the past five years, these two shares have gone from being 'tiny caps' to being serious contenders for the ASX 200.

Idea #1 is taking on the world, starting with the huge USA market. In a just a few short years the company has snatched market share away from rivals and is on its way to being the market leader.

Idea #2 uses a 'printer and cartridge' type model to get large and established customers: a) using their healthcare industry-leading product, b) paying for it again and again and again... so it's little wonder this company is tipped to grow at a rapid pace in 2019.

Access the free report by clicking here now. Absolutely no credit card or payment details required.

Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).