Strong half year for Biffa
Waste management group Biffa, which carries out bin collections for Cannock Chase and South Staffordshire councils, has seen a recovery in its revenue in its latest half year.
For the 26 weeks to September 24 it was up 39.1 per cent to £671.2 million with the operating loss reducing from £45m to £16.7m.
Chief executive Michael Topham said: "During the first half of the year we have successfully restored Biffa's adjusted operating profit to 2019-2020 levels, managed the impact of the supply chain challenges that are affecting the entire economy, and continued to make good progress in delivering our strategic priorities.
"The rebound in business performance, with volumes and pricing across most areas of the business at or above 2019-2020 levels, is testament to the resilient characteristics of our business model and the commitment of our team. Whilst like all businesses we are currently experiencing some cost inflation, most of our business has a level of pricing flexibility meaning we are well placed to mitigate these pressures.
"Our significant investment programme across circular economy infrastructure projects has continued at pace, including commissioning our new plastics recycling facilities, integrating recent collections acquisitions, opening new surplus redistribution outlets and continuing construction of our energy recovery facilities. Together these investments will provide the UK with essential green economy infrastructure and services, whilst giving Biffa a solid platform for sustainable growth."
He added that expectations for the full year remain unchanged.
