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Progress for Biffa ahead of full results

Biffa has said the performance of its resource recovery and treatment division has improved compared with the situation a year earlier, in a trading statement ahead of its annual results, which are due on 5 June.

The statement said Biffa’s balance sheet remained strong, with net debt in line with expectations.

It said the resource recovery and treatment division had received planning permission from Durham County Council for a PET plastic bottle recycling site in Seaham.

Biffa is continuing with plans to invest in incineration in a joint venture with Covanta, with arrangements for financing, operations and maintenance and waste supply “substantially complete”.

The industrial and commercial division had “continued to deliver organic growth, underpinned by pricing discipline and reduced customer churn, together with further acquisitive growth”.

Trading performance in the municipal division has stabilised and the energy division performed in line with expectations.

The company won several municipal contracts in 2018, including a 10-year deal with Melton Borough Council and a waste collection, street and beach cleansing contracts with both Waverley Borough Council and the East Sussex Waste Partnership, covering Hastings, Rother and Wealden districts. It also won a five-year contract for street cleansing in Forest of Dean.

Contract extensions were granted by Central Bedfordshire, Winchester, Portsmouth, South Staffordshire and Tandridge councils.

Commercial director Pete Dickson said: “With the recent announcement of the Government’s resources and waste strategy and a larger focus on waste management in the media, we’re reassured of the Government and the public’s ambition to reignite recycling performance improvement from the stagnant position of recent years.”

 

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