Increased costs weigh down Viridor earnings for 2011/12


British waste management company Viridor saw profits for its 2011/12 financial year fall due to macro-economic headwinds, declining landfill sales revenues and the increasing costs associated with participating in tenders for long-term projects, said parent company Pennon plc at the release of its annual figures earlier this week.

Viridor's revenues rose 6.9 per cent to £761m (ca. €952m), helped by increased recycling volumes and an improved waste mix. Earnings before interest, tax, depreciation and amortisation (Ebitda) for the period ended 31 March 2012 slid 5.3 per cent to £110m, and before-tax profit was off by 8.4 per cent to just less than £58m for the financial year.

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