The waste management company declared a “good performance”, delivering “solid organic and acquisition revenue growth”.
It also reported that “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 strengthened its north east role with its acquisition of waste management business O’Brien Waste Recycling Solutions Holdings Limited for £35.2m (see letsrecycle.com story).
And Biffa has said that the “business has performed well since acquisition”.
Revenue
Biffa reported in June a growth in net revenue of £898.8m, and profit after tax of £35.8m for the year up to 24 March 2017.
The previous financial year saw Biffa completing five acquisitions and its successful listing on the London Stock Exchange.
In the latest statement, the group said: “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.”
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