Biffa today (8 September) published a trading update for the first half of the 2021/22 financial year, saying its group net revenues in this period are up 12% when compared with 2019.
However, this figure includes the revenues from recent acquisitions the company has made. Excluding acquisitions, revenues in this period are up 3% on 2019.
The waste management company said trading in the first half of the year (April-September 2021) has continued in line with the board’s revised expectations.
In terms of waste volumes, Biffa says for its industrial and commercial division, like for like volumes (adjusted for acquisitions) have “stabilised at levels slightly above pre-pandemic levels”.
Biffa added that it’s also “working hard” to mitigate the impacts of the national shortage of HGV drivers, along with other supply chain challenges, on its services.
In the results, Biffa added that the group “continues to make good progress in delivering its strategic priorities”.
This includes the completion some of Viridor’s recycling assets on 1 September (see letsrecycle.com story).
The strategy also includes the development of its energy from waste facilities, the commissioning of its new plastic recycling facilities and the roll out of new Company Shop (CSG) stores.
The trading update comes ahead of Biffa’s interim results, scheduled for 18 November 2021.
Source: letsrecycle.com Waste Managment