28 September 2017 by Hera Lorandos

Renewi reports ‘strong’ trading results

Renewi – the company formed through a merger of UK waste business Shanks and its Dutch competitor Van Gansewinkel – has ‘continued to trade strongly’ since the two businesses joined together, the company has claimed.

The announcement comes in the company’s latest trading update for the previous six months ending 30 September ahead of its interim results which will be released in November.

Peter Dilnot, chief executive of Renewi plc

Renewi reported that with overall trading for the first half of the year had proceeded “ahead of expectations”.

The company also stated that the integration of the two businesses “remains on track” following the merger this year.

Trading

The company stated that its hazardous waste division is also performing well and the municipal division is making “good progress in the UK” as it completed new fuel contracts and operational milestones.

The municipal division comprises contracts to deliver services on behalf of East London Waste Authority, Barnsley, Doncaster and Rotherham, Cumbria and Dumfries and Galloway councils.

Commenting on the company’s performance, Peter Dilnot, Renewi chief executive, said: “We have continued to trade strongly through the first half of the year, particularly in our Commercial Division. Our integration plans are also progressing well. Accordingly, the Board is confident of delivering its expectations for the current year.

“Renewi is well positioned at the heart of a growing sector and is on track to deliver significant value accretion from the merger in the year ending 31 March 2019.”

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