Transpacific Industries (ASX:TPI) provided a trading update on January 21, anticipating operating earnings (EBITDA) between $197 million and $200 million for the first half of FY2010. This is slightly above the second half FY2009 operating EBITDA of $191.9 million, but well below the first half FY2009 result of $255.7 million.

“Operating conditions for the six months ended 31 December 2009 have been mixed,” the company stated.

“While the company’s municipal business has performed well, and commodity prices have improved from lows in FY09, market conditions were subdued in some areas, particularly those relating to commercial vehicles, manufacturing, construction and demolition (C&D) and liquid waste.”

The company also announced senior management changes earlier this month, with chief financial officer Glen Battershill having tendered his resignation and being set to leave the company in March. TPI is looking for a replacement.


(Inside Waste Weekly was not published last week due to the Australia Day Public Holiday falling on a Tuesday)

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