Biffa sees recovery, starts investments following June equity raise

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Revenues are now 17% below pre-pandemic levels in June from a 30% tumble seen in April

() said it continues to see a recovery in the demand for its services.

Revenues are now 17% below pre-pandemic levels in June, from a 30% tumble seen in April, while underlying earnings (EBITDA) remained positive throughout the lockdown period.

READ: Biffa raises cash to ensure opportunities do not go to waste

The waste management firm said it has recommenced its investment programme after the £100mln equity raise last month, with projects in the pipeline for both the collections and the resources & energy divisions.

The FTSE 250 company added it remained confident in its future prospects but uncertainty around recovery remains.

Analysts at Peel Hunt chopped the profit before tax forecast for the year to next March to £23mln from £31.9mln.

Shares added 1% to 196p on Thursday morning.

–Adds analyst comment, shares–



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