Biffa expects earnings growth following strong second half

(Sharecast News) - Waste management group Biffa traded in line with expectations in the second half of its year.Biffa told investors on Wednesday that it now expects to deliver organic and acquisitive net revenue growth in the year ending 29 March, which will result in underlying EBITDA growth.The group said its industrial and commercial division had continued to deliver organic growth, underpinned by pricing discipline and reduced customer churn, together with further acquisitive growth.Biffa also stated the unit's acquisition pipeline remained strong.The Buckinghamshire-based firm also saw its resource recovery and treatment division significantly improve on the second half of 2017 and trading stabilise in its municipal and energy wings.Lastly, Biffa told investors that it was continuing to advance its plans to invest in Energy from Waste plants, in a joint venture with Covanta.Arrangements for financing, operations and maintenance and waste supply were "substantially complete", while progress was also being made in aligning environmental permits and negotiating with the short-listed engineering, procurement and construction build contractors.Looking forward, Biffa remains confident in its strategy, commercial outlook and ongoing trading performance.As of 1040 GMT, Biffa shares had climbed 4.52% to 194.20p.