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Biffa profits soar

Waste management company Biffa has reported that profits have risen by almost 20%.

Unveiling it first-half pre-tax profits, Biffa chief executive Martin Bettington said: Biffa has delivered a strong set of maiden results, with all divisions achieving organic growth in the first half of the year.

The company reported that operating profits went up to £48.9 million from £45 million in 2005/06 and revenues rose from £356 million in 2005/06 to £376.5 million.

Dealing with waste collection, recycling and disposal, the company said its expansion into recycling and treatment activities was going well and that its Special Waste service was benefiting from the impact of the hazardous waste regulations.

Our strategy of operating across the whole waste management value chain positions the business well to respond to changes in the industry driven by legislation. We are also concentrating on the existing business and have brought in skills from outside the industry to drive through change in our largest customer facing division - collection, Bettington added.

The company, which was listed on the London Stock Exchange in October after de-merging from Severn Trent, has recently started a 14-year contract with the Metropolitan Borough of Wirral at an estimated value of £140 million.

Its landfill operations have also continued to be strong, and it opened a new landfill site in Northern Ireland last month.



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