Renewi: Strong H1 Performance
Edison | Nov 15, 2017 06:14AM ET
A good start to FY18 was trailed in earlier updates and Commercial Waste was a strong driver of progress in H118. This is now reflected in our increased estimates for the current year, while subsequent years are effectively unchanged, as is merger integration synergy guidance. Renewi PLC (LON:RWI) already offers superior earnings growth and management’s strategic focus is on enhancing this further.
Well-flagged H1 progress
H118 results were preceded by two trading updates (27 September and 23 October) that pointed to gathering momentum in Commercial Waste partly offset by Municipal division challenges. This was borne out by reported results, which showed good overall progress in group revenue and EBIT (up 11% and 33% in sterling and +4% and +21% in local currency terms, respectively). Messaging and progress with the integration plan following the merger of the former Shanks and Van Gansewinkel (VGG) businesses at the end of the previous financial year were very much in line with previous guidance. The underlying core and non-core debt positions were stable in the period, better than earlier management expectations.
To read the entire report Please click on the pdf File Below:
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.