Updates

Renewi

January 2019

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Shares in Renewi, the waste recycling specialist, have endured a tough time of late. The main bugbear has been a delay to the regulatory approval at its soil treatment plant in the Netherlands, impacting its Hazardous division by c.Eu15m profit. Brokers now assume permissions will be granted at end June ’19 (was October ’18) with the lost contribution set at Eu2.5m-3m per month.The other problem is seen at its largest division, Commercial (collection, sorting, treatment of commercial waste). The issue is that Renewi is now receiving lower recyclate prices for its waste while suffering higher disposal costs.Peel Hunt has reduced current year forecasts to next March by 23% to Eu62.6m (5.8 cents), and by 16% to Eu79. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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