Update: Momentum in the Netherlands continuing
Despite the tough economic background, investors should be encouraged by the pre-close trading update released on 28 September that underlying trading remains in line with expectations. The update shows a slightly mixed picture, with the recovery in the key Dutch solid waste market continuing, but somewhat offset by the negative impact on the Hazardous division from weak oil prices and the delay in opening the Wakefield facility. As a result of circumstances beyond the company’s control, the receivership of one of its project contractors leads to exceptional costs and a small shortfall in profits.Renewi is a recycling companies. Co. operates in four divisions: commercial, which is engaged in sorting and recycling for, amongst others things, paper, cardboard, wood, plastics, metals and Construction and Demolition waste; hazardous, which is engaged in treating contaminated soil and water, as well as for the disposal of a range of hazardous waste such as waste paints and solvents; municipal, which operates waste treatment facilities for U.K. and Canadian city and county councils under long-term contracts; and monostreams, which produce materials from waste streams in specific end markets such as glass, electrical and electronic equipment, organics and minerals.
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