Waste recycling bullish on outlook

LONDON - Britains Waste Recycling Group Plc yesterday reported almost tripled annual profits and presented a bullish picture for the future. "The opportunities that the future holds for progressive waste management companies have never been better", said Chairman David Williams. Pretax profit before goodwill amortisation in 1999 grew to 28.6 million pounds from 10.8 million and the dividend for the year was raised by 17 percent to 3.5 pence. During the year WRC acquired YEGWM, the dry and liquid waste business of Yorkshire water company Kelda Group Plc for which Kelda took in exchange a 45.9 percent stake in WRC. It also acquired from Kelda the 3C Waste Cheshire waste company through the issue of new shares to Kelda and its own existing shareholders, taking the enlarged group into the FTSE 250 Index. REUTERS NEWS SERVICE