StockMarketWire.com - Waste management company Biffa pulled its dividend and warned that the Covid-19 pandemic would result in a 'material impact' on its performance.

Significant disruptions to the company's operations were expected to continue for several months, it said, adding it was hard to predict their full impact.

'It is however clear that the impact will be material and as such the group is not providing guidance at the current time,' Biffa said.

In an effort to maintain its balance sheet strength, the company said it would temporarily halt all current M&A activity, review all areas of its operating cost base, and pull its dividend for 2020.

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