StockMarketWire.com - Integrated waste management group Biffa has maintained its full year forecasts after a strong first half performance.

Net revenue rose by 7.8% to £481.6m in the 26 weeks to 22 Sep and underlying EBITDA increased by 7.3% to £76.3m.

Underlying operating profit rose by 9.3% to £43.4m in the 26 weeks to 22 Sep as margins increased to 8.1% from 8.0%.

Underlying after-tax profits rose by 56.1% to £26.7m and on a statutory basis the group posted an after-tax profit of £23.7m against a loss of £5.0m last time.

Chief executive Ian Wakelin said: 'We are pleased to have achieved a strong performance in the first half of this year, during which we have continued to deliver on our acquisitive and organic growth strategy.

'Biffa maintains its market leading position as a fully integrated waste management specialist, and is well placed to leverage its scale and presence both to consolidate a fragmented market place and to further drive shareholder value by continuing to optimise and grow our existing operations.

'Looking ahead, we see attractive growth opportunities, including a healthy pipeline of acquisitions, of a range of sizes.

'We also have scope to continue to develop our infrastructure and services, taking advantage of the significant amount of waste we control.

'We look forward to reporting on the progress made in our EfW feasibility assessments when we announce our full year results. 'Our full year expectations remain unchanged and we look to the future with confidence.'






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