Waste firm Biffa trading in line with expectations
Waste giant Biffa said it has been performing in line with management expectations in the second half of fiscal 2022 and that net revenue for the first 11 months of the financial year rose significantly.
The company, which operates waste collection services in Cannock, South Staffordshire and Stafford, said net revenue for the first 11 months of the year ending March 25 were around 35 per cent higher than a year earlier and around 20 higher higher than in fiscal 2020.
Excluding acquisitions, growth increased by around 25 per cent and 10 per cent, respectively, it said.
Like-for-like volumes at its industrial and commercial division have stabilised slightly above pre-pandemic levels.
Looking ahead, Biffa said: “The board is pleased with the performance and underlying resilience of the business. Whilst the board is mindful of the potential impacts of events in Ukraine, we remain confident of the group’s position and reaffirm the group’s forecast for the current year."