Biffa backs FY expectations after in-line first half

Waste management company Biffa backed its full-year expectations on Wednesday as it said trading in the first half has been in line.

In an update ahead of its interim results in November, Biffa said first-half trading has continued in line with the revised expectations it set out in July.

Group net revenues for the five months to August were up 12% compared with the same period in 2019, and 3% higher excluding acquisitions. In the I&C business, like-for-like volumes adjusted for acquisitions have stabilised at levels slightly above pre-pandemic levels.

"As with many other businesses across the UK, we are working hard to mitigate the impact of the national shortage of HGV drivers, along with other supply chain challenges, on our services," Biffa said.

"The board is pleased with Biffa's strengthened business performance and the outlook for the full year remains positive and in line with the board's expectations."