Biffa boosts H1 revenues with "notable performance"
in the C&I waste and recycling segments

Biffa collection vehicle in London
13.11.2019 − 

The British waste company Biffa posted "strong performance" in the first half of its 2019/20 financial year, according to CEO Michael Topham, who presented the company's financials on Wednesday. Revenues net of landfill tax rose by nearly 9 per cent to £560.8m. Both of Biffa's operating divisions, Resources & Energy and Collections, had achieved the targets set by management, said the CEO. Within those divisions, the performance of the commercial and industrial (C&I) and recycling activities had been particularly notable. In the reporting period (the 26 weeks ended 27 September), statutory operating profit slipped by almost 3 per cent to £33.9m, but profit after tax was up by over 8 per cent to £20.6m, according to the half-year report.

In the Collections division, Biffa pointed to its inorganic growth, with four small acquisitions completed since the start of the business year. The company said it continued to look for new purchases and had “a strong future acquisition pipeline”. In the Resources & Energy division, recycling operations had reportedly seen good growth, and Biffa announced further progress in its waste to energy plant and plastics recycling investments. The company's materials recycling facilities (MRFs) were performing better than in the first half of the prior year as they recovered from the impacts of the China import ban on secondary raw materials. MRF gate fees had also increased and Biffa now had less exposure to commodity prices, the company said.

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