Record annual revenue for waste management firm Biffa
Biffa plc, the High Wycombe-based leader in UK sustainable waste management firm, recorded record revenues of £1.44 billion in the year to March 25, according to figures released this week.
The group, which has regional outlets in Abingdon, Didcot, Swindon, Gloucester and Cinderford, said revenue was up 39 per cent on the financial year 2021 and 24 per cent up on 2020.
The company said organic growth as the country recovered from the pandemic was supported by contributions from the Viridor business acquired during the year.
Performance, said the firm, has remained resilient in the face of significant inflationary cost pressures, supply chain challenges and driver shortages.
Group Operating Profit improved to a loss of £8.3 million, against a loss in 2021 of £37.6 million.
CEO Michael Topham said: ""I am delighted with the progress we have made in the face of another eventful and challenging year. Not only have we demonstrated the resilience of our business model, resulting in record adjusted operating profits and the reinstatement of the dividend, but we have continued to invest in the infrastructure and services that are essential to the delivery of a circular economy.
"As we look forward, whilst being mindful of the near term challenges the UK economy is facing, we are increasingly well positioned to play a key role in the transition that our sector is embarking upon, supported by an ambitious policy agenda."
