Business Overview
Overall Group trading in line with expectations in the first half
Commercial Waste division performing strongly due to market recovery and delivery of self-help programmes, with trading profit in Commercial Waste Netherlands up 78% at constant currency
Hazardous Waste division investments on track, despite market headwinds in the oil and gas sector
Municipal division build out of new infrastructure progressing, with BDR commissioned and Wakefield to commission after a short delay
Issue of first Green retail bond to be listed on the London Stock Exchange, raising proceeds of €100m
Financial Summary
Underlying revenue up 5% at constant currency to £297.0m
Underlying profit before tax up 4% at constant currency to £10.7m
Underlying EPS up 6% at constant currency to 2.1p per share
Continued focus on capital discipline delivered core net debt better than expectations at £184m and core Net Debt:EBITDA ratio of 2.7x
Interim dividend maintained at 1.1p per share, reflecting continued confidence in the medium term
