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Renewi Plc FY Underlying Pretax Profit From Ongoing Businesses Declines

Renewi plc (RWI.L) reported, on IFRS16 basis, loss before tax from continuing operations of 59.4 million euros or basic loss per share from continuing operations in cents of 7.7, for the year ended 31 March 2020. The Group recorded non-trading and exceptional items of 120 million euros, for the fiscal year. On IFRS16 basis, underlying profit before tax from ongoing businesses was 42.5 million euros, for the year ended 31 March 2020. Underlying earnings per share from ongoing businesses in cents per share was 3.9.

On IAS17 basis, underlying profit before tax from ongoing businesses declined 23% to 44.5 million euros. Underlying earnings per share from ongoing businesses was down 25% to 4.1 cents per share.

Fiscal year revenue from ongoing businesses was up 2% to 1.70 billion euros.

The Group projects Covid-19 to result in a potential reduction in EBIT and cash of up to 20 million euros in the first quarter compared with its previous expectations.

The Board has decided not to pay a final dividend for the year ended 31 March 2020. The interim dividend of 0.45 pence per share was paid on 10 January 2020.

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