Profits fall for Biffa
Waste management company Biffa, which runs collection services in Stafford, Cannock and South Staffordshire, saw profits fall in the half year to September 28.
Revenue was up by 2.7 per cent to £549.2 million for the business with profit after tax down 19.8 per cent to £19m.
Chief executive Michael Topham said: "Biffa has delivered a solid first half set of results, despite a number of expected external headwinds and our expectations for the full year remain unchanged.
"The delivery of our strategic objective of building the leading UK industrial and commercial waste management platform continues, with another very strong period of organic and acquisition growth and expanding margins in this key division for Biffa. We have an established track record of delivery and are confident that we can continue to execute this proven strategy in the coming years.
"The scale of our collection operations, and the control of materials that comes from this, offers us an attractive and advantaged position from which to invest in recycling and energy from waste opportunities."
Biffa yesterday announced a major commitment to plastics recycling in the UK, with an investment of around £15m in a PET plastic bottle recycling plant.
"We are proven players in this space and are excited about further growing our operations in this critical area of our industry," said Mr Topham.
