LOOKING AHEAD:

BIFF

Published date:
Thursday, June 7, 2007

Biffa (BIFF)

Finals Tuesday 12 June

BULL POINTS

> Should show good trading in municipal business

> May update on Leicester plant

BEAR POINTS

> Full-year profit and revenue set to be at low end of forecasts

> Limiting price hikes has restrained profit growth

> Contribution from collection division to be lower

> Leicester upgrade caused extended shutdown

SHARES SUMMARY

Trading was mostly good but a profit warning before full-year results surprised the market. A blanket price increase for collection activities was not imposed. Biffa has sacrificed profit growth for customer relationships. It hopes the emphasis on service will pay long-term. DC

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