Biffa expects bigger hit from new Covid lockdown, but sees FY in line
Waste management company Biffa said the latest UK coronavirus lockdown would have a more material impact than the second round of restrictions on volumes.
The company on Thursday said it estimated that industrial & commercial volumes would fall to around 70% - 75% of prior year levels, with similar trends seen in landfill volumes.
It added that ongoing depressed rPET flake and PRN prices would continue through the final quarter, impacting the contribution from its Seaham facility.
Biffa said it was on track to meet full-year expectations. Third-quarter revenue about 95% of levels achieved in the prior-year period.
“The group's performance demonstrates its resilient business model and it will continue to invest to help build a stronger, more sustainable business once it emerges from the pandemic. The board therefore remains positive on the group's outlook for full-year 2022 after the impacts of the pandemic are over,” it added.