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Record annual revenue for Biffa

Waste management company Biffa achieved record revenue of £1.44 billion in the year to March 25.

Biffa's Poplars landfill site at Cannock
Biffa's Poplars landfill site at Cannock

The group also reduced its pre-tax loss from £40.5 million in the previous year to £17.6m.

Revenue was up by 38.5 per cent on 2020-2021 for Biffa which includes the Poplars landfill site at Norton Canes and operates waste collection services in Cannock, South Staffordshire and Stafford. It also has sites in the Black Country.

Chief executive Michael Topham said: "I am delighted with the progress we have made in the face of another eventful and challenging year. Not only have we demonstrated the resilience of our business model, resulting in record adjusted operating profits and the reinstatement of the dividend, but we have continued to invest in the infrastructure and services that are essential to the delivery of a circular economy.

"As we look forward, whilst being mindful of the near term challenges the UK economy is facing, we are increasingly well positioned to play a key role in the transition that our sector is embarking upon, supported by an ambitious policy agenda."

Biffa has made a strong recovery from the pandemic with underlying industrial and commercial collection volumes slightly ahead of pre-pandemic levels.

Services were maintained despite a difficult operating environment, with a swift and effective response to shortages of drivers, fuel and other essential supplies.

Biffa says it is well positioned for further growth with the Government's ambitions and emerging policies provide a significant investment opportunity for the private sector in green economy services and infrastructure

The proposed final dividend has been reinstated at 4.69p per share, bringing the total dividend for the year to 6.89p.

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