There was always bound to be intensified analyst scrutiny for Renewi (RWI) following its merger with Van Gansewinkel Groep (and subsequent rebranding) earlier this year. So, investors in the combined waste management group will be relieved by creditable underlying performance at the half-year mark, alongside the rapid delivery of cost synergies: €4.6m (£4.07m) by the end of September through the merging of back-office functions and other overhead reductions. Management has identified €40m in overall synergies, three-quarters of which are on track for delivery by the end of the 2018 financial year.
IC TIP:
Hold
at
104p