The Anglo-Dutch waste management company Renewi reported strong performance in its financial first half. Consolidated revenue in the six months ended 30 September edged 4 per cent higher to reach €952m. Statutory profit for the period jumped from €36.5m last year to €53.4m, with around €10m stemming from net exceptional profits.
The revenue increase had been achieved despite what CEO Otto de Bont described as "some challenges in volume". The pressure on inbound volumes had been driven by increased competition from waste to energy plant operators, who were able to lower their gate fees due to the high energy prices. Shifting market share was not the only issue; total waste arisings had fallen in the midst of the unfavourable economy....
