City File: Waste Management

IT IS nearly a year since the giant US group Waste Management floated off its international interests in London. The shares have been far from exciting, but the businesses in Waste Management International have moved smartly on.

WMI's joint venture with Wessex Water has bought NFC's waste management operations for a reasonable pounds 113m. Add this to a similar purchase of Wimpey Waste Management in 1991, and the venture is now one of the UK's largest waste companies.

WMI's full-year results should show little surprise, with profits nearly doubling to pounds 145m but earnings per share showing a more modest 30 per cent growth.

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