10 February – trading update
The company has released an update on trading ahead of its preliminary results announcement on 31 March. Revenue and EBITDA are expected to be in line with market expectations. It is also good to hear that 2014 has begun well due to the award of two major contracts with Birmingham City Council and Gravesham Borough Council, together worth more than £2m in terms of revenue. The Yorkshire Purchasing Organisation has also renewed three framework agreements for a further 12 months, covering recycling containers, compostable liners and steel bins. Further significant contracts are said to be under negotiation and the order book is building well, in line with internal forecasts. We continue to believe that the shares represent GOOD VALUE.