Biffa plc Pre-Close Trading Update (4761Z)
March 15 2017 - 2:00AM
UK Regulatory
TIDMBIFF
RNS Number : 4761Z
Biffa plc
15 March 2017
Biffa plc
15 March 2017
PRE-CLOSE TRADING UPDATE
Maiden Full Year Results to be in line with expectations
Biffa plc ('Biffa' or 'the Group'), a leading UK integrated
waste management company, today issues a Pre-Close Trading Update
ahead of its Full Year Results announcement for the 52 weeks ending
24 March 2017, scheduled for 14 June 2017.
Underlying trading is consistent with our expectations at the
time of the Half Year Results in November. The Group continues to
make good progress in implementing its strategy to deliver revenue
growth and margin expansion.
Group Underlying EBITDA and Underlying Operating Profit are
anticipated to be in line with our expectations for the full year.
The Industrial & Commercial division has continued to perform
well with ongoing revenue growth supported by cost discipline,
including the delivery of acquisition synergies. Further, in the
second half of the year the division completed or reached agreement
on a number of small infill acquisitions. The Municipal, Resource
Recovery & Treatment and Energy divisions have continued to
perform as expected.
Net debt at year end is anticipated to be in line with our
expectations.
Biffa remains well positioned to grow both organically and
through acquisition. We are actively pursuing a strong pipeline of
acquisition opportunities. The markets in which we operate continue
to be supportive of our integrated business model.
We continue to pursue our strategy with confidence and as a
result, the Board's overall expectations for the full year remain
unchanged.
ENQUIRIES:
Investors
Ian Wakelin, Chief Executive Officer
Michael Topham, Chief Financial Officer
ir@biffa.co.uk
Media & Analysts
Instinctif Partners +44 (0) 20 7457 2020
biffa@instinctif.com
This announcement contains certain forward-looking statements
that are subject to the usual risk factors and uncertainties
associated with the Company's business. Whilst the Company 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 the Company's
control or within the Company's control where, for example, the
Company decides on a change of plan or strategy. Accordingly no
reliance may be placed on the figures contained in such forward
looking statements.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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