Biffa plans to end worker furloughs as revenues rebound

In August, Biffa saw revenues from C&I
collections return to 90% of prior-year levels.
09.09.2020 − 

The British waste management company Biffa has seen its business improving month for month since the height of the Covid-19 outbreak and anticipates that it will be able to end staff furloughs by the end of September. Group-wide, revenues in August had recovered to 90 per cent of their prior-year levels, the company said in a trading update on Wednesday.

Revenue generation was slightly weaker for the commercial and industrial (I&C) waste segment at 87 per cent of August 2019 levels and landfill at 86 per cent. Underlying profit also continued to steadily improve. This put Biffa "slightly ahead of the group's base case scenario", the company said on Wednesday morning. Its outlook for the year was unchanged, meaning that it continued to anticipate "a subdued and incomplete recovery over the remainder of the year", but those developments remained subject to the "pace and shape of the economic recovery".

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