Biffa creating value from waste

Originally part of Severn Trent (SVT), Biffa (BIFF) was demerged onto the FTSE 250 in 2006 before being taken private in 2008 as part of a £1.7bn leveraged buyout. Falling into the hands of its lenders in 2013, the waste management provider rejoined the main market in 2016 after trimming its planned listing price by as much as a third to 180p. Potential investors shouldn’t be deterred by that rocky path. Momentum is building as the group invests in long-term growth opportunities – higher-margin industrial and commercial waste (I&C) market, plastics recycling and energy from waste (EfW). Biffa is targeting 50 per cent growth in underlying operating profit and over 50 per cent EPS growth between 2020 and 2023.