Shortly before its business year closes on 31 March, Anglo-Dutch waste management company Renewi has again raised its earnings forecast. With overall trading for the group remaining strong, Renewi's board expects the company's performance for 2021/22 to be ahead of previous expectations.
Renewi reported strong business continuing through January and February, explaining that it had benefitted particularly from ongoing high recyclate prices and good cost control. These factors had been sufficient to offset lower volumes due to the Covid restrictions, to which Renewi is especially exposed as the market leader for commercial and industrial (C&I) waste management in the Netherlands and Belgium. The company says it is expecting recyclate prices to be softer in the 2022/23 business year and has factored a reduction into its forecast for the coming twelve months....
