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Waste-to-product group Renewi upgraded its annual earnings guidance, citing increased volumes, improved recyclate prices and ongoing cost management.
In a trading update for the six months through September, the company said like-for-like revenue in the first five months had been more than 10% above the Covid-affected prior year.
They were 7% ahead of the pre-Covid year ended 31 March 2020, it added.
'The strong performance in the first half and positive trading outlook have led the board to materially increase its expectations for the full year ending 31 March 2022,' Renewi said.
'Longer term, the transition to increased recycling will continue to support our business model.'
'The sustainability agenda and the potential for a "green recovery" supported by the EU and national governments will present further attractive opportunities for Renewi to convert waste into a wider range of high-quality secondary materials.'