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Fml wish I'd bought more now ...sods law
Come on biffa! Ya fat behatch!
2.19 today new high :-)
Well, Mano 'The trends your friend'......particularly if is backed up by an increase in volumn. The volumn of trades, back up the increase in price which is always great to see. We will all be happy to see you get your double :) GL
Biffa (LON:BIFF, 193.25p) – Buy Biffa, a leading UK integrated waste management company, yesterday announced its results for the 52 weeks ended 24 March 2017 ('FY2017'). During the period, net revenue (revenue excluding Landfill Tax) advanced by +8.3% to £898.8m, comprised of; +3.3% organic growth and +5.0% from acquisition, against the comparative period (FY2016). On an underlying basis, EBITDA margin improved by +0.7% to 13.9% which resulted in EBITDA growth of +12.6% to £137.7m. Operating profit grew by +18.1% to £73.8m as operating margin rose by +0.8% to 7.5%, leading to significant jump in pre-tax profit of £45.1m, up +112.7m, or profit after tax of £35.8m, up +251.0%. On a statutory basis, loss after tax was £10.9m (FY2016: £5.1m), primarily reflecting Biffa's IPO costs of £29.0m and the impact of the reduction in the real discount rate on landfill provisions charge of £17.9m (FY2016: nil). Underlying free cash flow stood at £28.8m (FY2016: £35.9m), cash and cash equivalents amounted to £56.4m (FY2016: £106.0m), while net debt at the year-end was £246.1m (FY2016: £505.9m), implying net debt to EBITDA of 1.8x. On the operational front, the Group completed 5 acquisitions (total investment: £25.7m) and signed an exclusive partnership agreement with Covanta, a leading developer and operator of Energy from Waste (EfW) recovery facilities, to jointly explore 2 potential EfW projects in Leicestershire and Cheshire. The Group was admitted on the main market of the London Stock Exchange in October 2016 through IPO raising £262m. Biffa's CEO, Ian Wakelin, commented "Biffa delivered a strong performance in the year that also saw our successful listing on the main market of the London Stock Exchange. Our expectations for the year ahead remain unchanged and we look forward with confidence". The Group declared its maiden dividend of 2.4p per share, to be paid on 28 July 2017. Our View: Biffa delivered FY2017 results in line with expectation and with pre-close trading update announced in March. The Group's all 4 divisions; Industrial & Commercial (58% of net revenue), Resource Recovery & Treatment (12% of net revenue), Municipal (20% of net revenue), and Energy (10% of net revenue) performed well. In particular, Industrial & Commercial division showed strong performance with organic growth of +5.9% driven by new customer wins, a further +3.1% revenue growth led by the 5 acquisitions, together with a significant margin improvement of +1.7% during the period. Looking ahead, the Board confirmed that its expectations for the FY2018 remain unchanged with strong pipeline of acquisition opportunities. Outlook for Industrial & Commercial division is encouraging as continued revenue and margin growth will drive organic growth, while the Group retains its strong acquisition pipeline. Resource Recovery & Treatment division also has positive
2.30 is my target then reassess it brokers have this at 2.60 by the looks of it if it carrys on that could be Thursday or Friday ;-) and good old biffa paying a divi always helps too. looks very promising. ..you've only got to look at viridor to see how the rubbish business is booming
This share is off to the races .. I'll hold until it doubles ,top slice then forget about it for a few years .
Well, Billy the last few days have been sweet as you say. Interesting business, forecasted to increase growth rate going forward and a % commitment of profits in dividends. Promises a good tuck away. GL
Looks to be coming up quick a small divi too sweet!
Viridor lost a 17 billion pound contract it can only benifit the likes of biffa
Biffa collections benefits brought to light by Pennon results, Numis says Thu, 25th May 2017 12:29 (ShareCast News) - Broker Numis said Biffa was one of the top stocks picks in the support services sector as it could be a beneficiary of trends mentioned by rival Viridor this week. Following comments from Pennon as part of interim results on Wednesday, Numis noted that Pennon's Viridor division, a key competitor of Biffa, had endured weaker performance in its collections business, with adjusted operating profits down 7%.Analyst James Beard said this read-across signalled positive news for Biffa, which he believes has taken market share in this area from Viridor over the last 12 months.Beard said it was clear that Viridor is prioritising its Energy-from-Waste division, with significantly more capital allocated than to contracts & collections capex of £13m and management focused on the potential to create increased availability of residual waste for use in EfW post-Brexit.As for the read-across to Biffa, he said: "We believe that the decline in Viridor's Contracts & Collections profits is indicative of the company focusing its resources elsewhere, and it is possible that Biffa has been a beneficiary of this, taking market share. "The portion of improved profitability in Recycling that is due to renegotiation of customer contracts is also positive for Biffa, given that it has been undertaking a similar process." Viridor's focus on the EfW market underpins the analyst's view that Biffa is likely to invest or partner with investors in this area in the future, though capital deployment on infill industrial and commercial collections M&A to increase density is the medium-term priority.Numis has a 'buy' rating and a price target of 260p for Biffa.
looks like a buy for me at this level currently good luck all
11 May 2017 Biffa plc ('Biffa' or 'the Company'), a leading UK integrated waste management company, will today host a site visit for analysts at Edmonton, its North London materials recycling facility (MRF). There will be a series of presentations and tour of the site providing insight into Biffa's operations at Edmonton in the context of the Company's wider operations and strategy. The presentation materials will be made available at https://www.biffa.co.uk/investor-centre/ following the event.
Some very strange trades today .multiple trades for a handful of shares .
To be clear, I meant 35% of profits to go into dividends each year. Not 35% increase of dividend year on year - just in case it was misleading
If they declare a dividend (which they've said they will) then the share price should reflect it. Meanwhile, the share price has established a base trading range and should start north from 189 soon. For anyone interested it has just broken the 50 day moving average on the upside, so it might rise sooner than expected. With 35% increase in dividends every year and new aquisitions to boost interest, this share should wake up soon... well that's my theory, anyway.
Think that maybe the way forward here Riffgo. The SP is stagnate, mixed rating, released some positive news and result, but the re-entry to the LSE was to raise funds for its debt position. I would be suprised if the SP reaches the 220 mark any time soon IMHO. Lets see what the next year brings here. MrBBD
Not so much for a takeover (although that would be good) but for the slow, steady rise in dividends from a low base.
Released some good news today in terms of contract awards and still no real movement in the SP. Rating have been in the 200 plus mark, but Biffa appear to struggle to break the 190 mark..
Hi Smoke. Going to stay in here and watch what happens for the time being. I am a bit over exposed in biff, dfs and esure. There's no panic I'm in all three at reasonable averages, one good day would reverse any losses. But I really should balance my portfolio as we go into next year. D.
Ok badger cheers
£95mill. Cash and cash equivalent according to rns. D.
ok badger agree 270m quite high debt any news on cash in bank see tomm might sell if any weakness in sp
Seemed a reasonable first report. The message i'm getting from it is it's going to take time to blend all the financial to's and fro's from the ipo cost. I think the'res scope for year on year reasonable growth here, Brexit wise i'm not seeing a big issue, Yield would appear to be acceptable, debt a bit on the high side though. Certainly going to stay here, don't know for how much or how long, we'll see. D.
We're being toyed with guys that supposed big sell was a buy. D.