Major recycling and waste management company Viridor has reported a small recovery in the prices of recyclate and said its outlook for energy from waste is positive.
In an interim management statement by Viridor’s owner Pennon Group, said that trading in Viridor has been significantly below the level of last year with recyclate prices falling back from their 2011 peak reflecting world economic conditions.
It added: “Recyclate revenues per tonne have recovered a little from their lows of October and November 2012 but remain significantly below first half of 2012/13 levels and we remain cautious about the prospects for further recovery.”
In the statement, Viridor said that it was continuing to respond aggressively to the ongoing near-term challenges and expects profit in 2013/14 to be broadly similar to the current year.
However, it expects its energy from waste projects to deliver significant growth from 2014/15 onwards due to strong progress since the beginning of the year in developing its project pipeline.
This includes financial close for its Glasgow Recycling and Renewable Energy Centre, financial close for the South London Waste Partnership, planning approval for its energy from waste facility in Peterborough, and provisional preferred bidder for the South East Wales residual waste project (Prosiect Gwyrrd).