Biffa plc Pre-Close Trading Update (0441Q)
07 September 2017 - 4:00PM
UK Regulatory
TIDMBIFF
RNS Number : 0441Q
Biffa plc
07 September 2017
Biffa plc
7 September 2017
PRE-CLOSE TRADING UPDATE
Good half year performance
Biffa plc ('Biffa' or 'the Group'), a leading UK integrated
waste management company, today issues a Pre-Close Trading Update
ahead of its Half Year Results announcement for the six months
ending 22 September 2017, scheduled for 22 November 2017.
The Group has achieved a good performance with sustained
momentum overall. Biffa has continued to deliver solid organic and
acquisition revenue growth, while Underlying EBITDA and Underlying
Operating Profit growth have been driven by a strong operational
performance and cost control, including the delivery of acquisition
synergies.
In July, Biffa completed the acquisition of O'Brien Waste
Recycling Solutions Holdings Limited, a leading provider of waste
and recycling solutions in the North East of England, for GBP35.2m.
The business has performed well since acquisition.
The acquisition pipeline is positive and we are actively
exploring further value enhancing opportunities.
The Group's balance sheet remains strong, with cash generation
and net debt also in line with our expectations.
The Board remains confident in the Group's strategy, commercial
opportunities, and outlook for the full year.
Enquiries:
Investors & Analysts
Ian Wakelin, Chief Executive Officer
Michael Topham, Chief Financial Officer
ir@biffa.co.uk
Media
Instinctif Partners
+44 (0) 20 7547 2020
biffa@instinctif.com
This announcement contains certain forward-looking statements
that are subject to the usual risk factors and uncertainties
associated with Biffa's business. Whilst Biffa believes the
expectations reflected herein to be reasonable in light of the
information available to them at this time, the actual outcome may
be materially different owing to factors beyond Biffa's control or
within Biffa's control where, for example, Biffa decides on a
change of plan or strategy. Accordingly, no reliance may be placed
on the figures contained in such forward-looking statements.
About Biffa
Biffa is a leading UK-based integrated waste management
business. The Group operates across the breadth of the waste
management value chain, including the collection, treatment,
processing and disposal of waste and recyclable materials, as well
as related work in the production and sale of energy derived from
waste and the sale of recovered commodities such as paper, glass,
metals and plastic. Biffa's customer base for these services
includes local authorities (which includes the collection of waste
from households), large corporates and SMEs, and purchasers of
end-product commodities and energy. The Group's services are
organised across four operating divisions: Industrial &
Commercial; Municipal; Resource Recovery & Treatment
(RR&T); and Energy. In FY 2017, the Group's total revenue was
GBP990.4 million and its Underlying EBITDA was GBP137.7 million.
Biffa was admitted to trading on the London Stock Exchange's main
market for listed securities in October 2016 under the ticker
"BIFF".
For more information visit www.biffa.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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