Looking good since the demerger. Lots of potential growth opportunities, a potential bid target and green credentials to boot. what more could you ask for?!

Biffa has posted first-half profit before tax up 19.9% to 41.6m, boosted by organic growth.

The waste management services company, which recently demerged from water company Severn Trent, also saw revenues up 5.8% to 376.5m in the six months to September 29th.

Biffa's maiden interim dividend was set at 2.1p per share.

CEO, Martin Bettington, said, 'Biffa has delivered a strong set of maiden results, with all divisions achieving organic growth in the first half of the year.'

Seems a reasonable appraisal on events I think Fred, SP on the way back north as well.

As predicted, back up yesterday. Quality share with good prospects. Thanks for the article Fred1new.

http://moneyam.uk-wire.com/cgi-bin/articles/200704161257519190U.html

Interesting move. Believe JP Morgan Cazenove provide takeover advice among other things.

Don't they all Stan (not that I wouldn't appreciate takeover speculation!)?

I had not looked at It like that Queen1 -):

"Meanwhile, upbeat broker comment helped Biffa and Shanks Group, up 20p at 339p and 14.75p at 266.5p, respectively.

Goldman Sachs placed both waste management group's on its Conviction Buy List and said the UK sector lacks the scale to cope with the expected necessary investment programme and predicted consolidation."

"Conviction Buy List"?....not heard that one before -):

Goldmans 400p target seems a bit low I would consider 500p a more likely buy out price, still a good day today might see 400p before too long.

Well it's been a good bounce - I thought we may have been moving back towards 300p. If we can get to 350p by the end of the week I think that will be a good platform.

On the up still so far this morning, Support Services seems a good sector to be in at the moment.

Results announced today really weren't that bad - in fact they were very positive in many aspects - so why the large drop in SP so far?

It does look overdone to me. Believe there was an article in the Times or Guardian yesterday saying that if results aren't good, it's only bid activity that will support the price. The general lacklustre day is not helping.

There's also this to factor in:

Turning to the midcap downside, Biffa was the biggest faller, down 27 or 8.39 pct at 295 after the group's in-line full year numbers as the outlook disappointed.
The group posted a full-year pretax profit of 72.8 mln stg, an increase of 11.1 pct on the previous year.
The waste management firm said revenue rose 6.3 pct to 742.7 mln stg in the same comparison.
Merrill Lynch reiterated its 'sell' stance on Biffa, citing the fact that the company's statement is cautious about current year outlook, and suggesting that further downgrades may yet be necessary.

I decided to ditch this, better elsewhere with likes of Eaga and PVCS.

I still think it was overdone. Still, what do I know?!

Don't tempt me :-)

Worth buying this morning after yesterdays poorly received results.

3 directors bought stock at around 285p

That doesn't surprise me. This is still a quality play with a lot of long-term potential (or the potential to be taken over). The Directors know this and saw the post-results slump as a buying opportunity.

Although this company has had some good press coverage since its disappointing results and in the very long term should be a winner, it is likely to trade sideways for some time, probably months waiting for fundamentals to catch up.

From the maps, it could rebound and trade between 310 and 360p, but is more likely to trade between 280 and 310 p for months waiting for and improvement in projected fundamentals. (Some of the CEO comments could be reread.) From what I can see the bounce to-day has less than hoped for volume to support it.

BUT DYOH I am known to be wrong

You're probably right but I'm a long-term shareholder and in the case of this share I believe I will profit in the long term. But of course I too am known to be wrong!

STOCKWATCH Biffa weak; Morgan Stanley placing 22.8 mln shares


LONDON (Thomson Financial) - Shares in Biffa PLC were weak in early morning
trade, with Morgan Stanley understood to be placing 22.8 mln shares in the waste
management firm via an accelerate book-build in a price range of 280-285 pence,
according to dealers.
At 9.18 am, Biffa shares were 11-3/4 pence lower at 282 in volumes of
898,790 shares traded, while the FTSE 250 index was down 126.3 points at
11,671.2.
tf.TFN-Europe_newsdesk@thomson.com
jmh/lce

...In case your wondering -):

Down 4.5% to 280p on a volume of 37 million. (average vol. of late is about 4 mill. from memory) so a serious correction here.