Waste firm Viridor is expecting reduced profits this year because of falling recyclate prices and increased bid costs, it revealed today.
Parent company Pennon Group said in an interim management statement that Viridor had a “growing pipeline of long-term projects” including a 25-year residual waste treatment contract for Glasgow and preferred bidder status for South London Waste Partnership’s residual waste.
Viridor has also made acquisitions including Community Waste Recycling in Bedfordshire and Oxfordshire; and JWS Churngold in Lancashire.
Pennon reported a continuing “strong performance” for its other subsidiary, South West Water.
It said: “Overall group financial performance since 30 September 2011 remains on track to meet management expectations.”