Biffa said problems relating to the availability of HGV drivers had eased and its full year underlying performance was in line with the board’s expectations.

In a trading update ahead of its annual results, the collection, recycling, and treatment business said group net revenues for the 11 months to February 2022 were around 35% higher than FY21 and 20% higher than FY20. Excluding the Viridor and Simply Waste acquisitions in the last 18 months, Biffa said annual growth had been 25% and 10% respectively.

It added that cost inflation and supply chain challenges had been offset with price increases and other measures and that “the issue of shortage of HGV drivers has also eased in recent months”.

The company said: “The board is pleased with the performance and underlying resilience of the business.

“Whilst the board is mindful of the potential impacts of events in Ukraine, we remain confident of the group’s position and reaffirm the group’s forecast for the current year.”