Cleanaway Waste Management posts 17.8% rise in HY profit
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The news: Cleanaway Waste Management reported a 17.8% jump in interim net profit after tax to $109.7 million, from $93.1 million the prior corresponding period.
The numbers: The profit exceeded analysts’ forecasts of $98.6 million, according to Visible Alpha data.
Net revenue was 13% higher to $1.87 billion, while earnings before interest and tax rose 16.9% to $228.3 million. Earnings from the solid waste services division saw an 11% increase to $196.7 million.
The company declared a fully franked interim dividend of 3.35 cents per share, edging higher than consensus estimate of 3.1 cents.
The context: The company said the earnings result was driven by strong growth in the solid waste services segment alongside the acquisition of Contract Resources.
Cleanaway upgraded its FY26 underlying earnings guidance to be in the range of $480 million and $500 million.
The source: ASX
