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Viridor expected to hit full year profit growth

Viridor is confident of fulfilling its profit growth expectations for the current year,  its parent company Pennon Group has stated in an interim management statement.

The prediction follows Viridor’s £1.7m acquisition of Storm Recycling in June, in line with the company’s forward plan of making strategic acquisitions in key areas. Another contributing factor is Viridor’s successful agreement with Devon County Council to build a new energy from waste plant in Exeter.

In addition, the waste management company has “decided in principle to proceed with the financing, construction and operation of a 350,000 tonne EfW plant in Cardiff”. Viridor is one of three bidders for the project, in which it is proposing to build a merchant facility.

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