A rubbish success

RUBBISH collector Biffa was pushed into a loss of £18.7m after an expensive return to the stock market.

Britain’s second-biggest recycler of waste said its flotation in October came with a price tag of £29m.

despite the losses, underlying results showed profits were up £23.9m to £45.1m. Chief executive Ian Wakelin said that the company was in a ‘strong position’ and had already made five acquisitions in the past year, and dropped hints that more were likely.

Biffa returned to the London Stock Exchange last year valued at about £450m.