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Viridor Recycling Earnings Pic

Viridor reports recycling earnings boost

Posted on 23 June 2017

Pennon Group – the parent company of waste and resources firm Viridor – has reported an ‘improvement’ in earnings of around £9.6 million from its recycling operations in 2016/17.

In its full year financial report, published (24 May), the company claims that ‘self-help’ efficiency measures, implemented to improve margins in the recycling business, have helped to increase recycling earnings to £22.7 million in 2016/17, up from £13.1 million during the previous 12 months.

Viridor has ‘extensive’ MRF capacity in the UK, the company has reported

Overall Pennon Group has reported that Viridor’s earnings before interest, tax, depreciation and amortization were up 18.7% to £138.3 million, despite a 1.6% drop in revenue to £793.5 million.

Total tonnages handled by the company fell marginally from 7.8 million tonnes in 2015/16 to 7.6 million tonnes in 2016/17, with the volume of waste at the company’s energy recovery facilities totalling 2.2 million, 1.7 million tonnes handled at landfill sites, and around 3.7 million tonnes of recyclable and other materials handled.