Biffa (BIFF) foresees significantly reduced demand for its industrial and commercial collection services as many clients cease or limit trading in response to the Covid-19 outbreak. Volumes into some processing facilities in the resources and energy division are also expected to fall.
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The group anticipates the cumulative impact on earnings will not be material for the current financial year – which ends on 27 March – but will hit next year. It says it is too early to provide guidance. In the meantime, all acquisitions activity has been halted and non-essential capital expenditure deferred. There will be no final dividend this year.
