(Alliance News) - Biffa PLC on Wednesday said first half trading remains in line with board's expectations underpinned by a solid performance at its collections unit, stable growth in the Industrial & Commercial and Municipal businesses, and in line returns from the Resources & Energy division.
The waste management company also said its Industrial & Commercial unit has made two small acquisitions in the six month period to September 27 for a combined consideration of GBP2.9 million.
The Collections division will deliver solid revenue and profit growth for the first half, Biffa said, adding that the Industrial & Commercial business continues to grow both organically and through acquisitions and the Municipal business remains stable.
The company's Resources & Energy division is expected to deliver returns in line with expectations for first half.
Biffa remains confident in its ongoing trading performance and has reiterated its outlook for financial 2020. The company's cash generation and net debt remains in line with expectations and retains sufficient financing headroom to deliver on growth strategy.
London-listed shares in Biffa were trading 1.3% lower at 219.50 pence each on Wednesday morning. The company is scheduled to release its first half results on November 13.
