Shares of Renewi (LON: RWI) have risen Tuesday after the company reported its results for the six months ended 30 September 2021, showing a rise in revenue and underlying profit.
The company said it delivered a strong performance with revenue up 11% to €916m, which was driven by the Covid recovery and ongoing stronger recyclate prices. Underlying EBIT rose 125% to €63.8m, driven by commercial waste. Pretax profit was reported at €44.7 million from €4.4 million the previous year.
In addition, the company further increased its FY22 expectations, stating: “We remain confident our three strategic growth initiatives – our innovation pipeline, recovery of earnings at ATM, and the Renewi 2.0 programme – will deliver significant additional earnings over the coming years as well as the longer term.”
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.
Otto de Bont, CEO of Renewi, said: “Renewi delivered a strong performance in the first half of FY22, with underlying EBIT 125% above prior year and 69% above the pre-Covid first half of FY20. We have successfully retained some of the structural cost savings made in response to the Covid-19 pandemic and these, combined with volume recovery and ongoing strong recyclate prices, have contributed to the significant increase in margins and profits.
“Following this strong first half, the Board is further increasing its full-year expectations, which assume a moderation of recyclate prices in the second half as well as a reduced throughput at ATM.”
Renewi shares are currently up 11.55% at 814p, adding to its 96.8% year-to-date gains.
Should You Invest in Renewi Shares?
One of the most frequently asked questions we receive is, “what stocks are best to buy right now?” It’s a wide-ranging question, but one that we have answered… Our AskTraders stock analysts regularly review the market and compile a list of which companies you should be adding to your portfolio, including short and longer-term positions. Here are the best stocks to buy right now
