Renewi plc (LSE: RWI) opened stronger Thursday morning after the company announced its trading update for the year ending March 31st 2021; shares price spiked 16.3%.
The international waste-to-product business continued to perform well in the fourth quarter, aided by its strong core commercial division performance.
The company benefitted from better than expected recyclate prices and resilience in the bulky waste and C&D waste volumes to offset lower roller bin volumes. In the Netherlands and Belgium, commercial volumes for the fourth quarter are forecast to be about 96% and 95% of the previous year.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
The group’s underlying EBIT for FY21 is now predicted to be around €68 million, significantly higher than its previous estimate.
Furthermore, the group’s cash performance is expected to end the year stronger than previous expectations, with core net debt likely to be less than €350 million.
The firm also announced Marc den Hartog’s appointment as Managing Director of Commercial Waste Netherlands, starting from April 1st 2021.
Despite the strong performance in FY21, Renewi said it is remaining cautious regarding the outlook for the financial year, 2022, given the coronavirus’s uncertainty.
In the long term, the company said that the transition to increased recycling will continue to support its business model with the EU and national governments’ sustainability agenda.
Renewi’s current share price is at 53.5p, gaining 16.3% after the announcement.
