Biffa full year performance in line with expectations

Biffa (LON:BIFF) issued a trading update on Wednesday in which it revealed that trading over the full year has been in line with its expectations.

Shares in the waste management company were up during trading on Wednesday.

The announcement comes ahead of Biffa’s full year results for the 52 weeks ending 27 March 2020, which are scheduled to be released in late May.

Biffa said that its collections division continued to deliver growth. Likewise, its Resources & Energy division has also seen growth, driven by a strong performance in the recycling business.

The waste management company continued to announce that it will launch its sustainability strategy Resourceful, Responsible on 16 March.

“The strategy will detail the Group’s ambitious approach to sustainability, defining its commitment to helping to solve the UK’s waste challenge and ensuring its business is fit for purpose over the critical years ahead,” Biffa told investors.

The sustainability strategy will be centred around three pillars; Building a Circular Economy, Tackling Climate Change and Caring for our People and Supporting our Communities.

Like most companies, Biffa is also closely monitoring the potential impacts of the coronavirus outbreak on its business and supply chains.

As the outbreak of the virus continues to evolve, many companies have issued warnings and have outlined the potential business impacts of the coronavirus.

Commenting on whether the coronavirus has had an impact, Biffa said: “There has not been any meaningful impact on the Group to date.”

Shares in Biffa plc (LON:BIFF) were up on Wednesday, trading at +0.24% as of 13:28 GMT.