What does Cleanaway Waste Management do?
Cleanaway Waste Management Ltd [ASX:CWY] operates a network of waste collection, processing and landfill sites throughout Australia.
They have one of the largest networks of collection vehicles operating from more than 100 depots in Australia, servicing over 90 municipal councils across Australia in waste collection.
In addition, they have landfill assets in every state generating landfill gas, which is converted into enough renewable energy to power 30,000 homes annually.
What’s moving the Cleanaway share price?
The company has undergone a significant restructure over the past 12 months under a new CEO.
That restructure is starting to bear fruit. Revenues are improving and the share price is moving up accordingly.
Cleanaway released their full-year results on 19 August.
The company posted a $44.8 million profit for the financial year. That’s in stark contrast to the previous year, which saw the company post a $23.6 million loss.
Underlying profit was up 38.5%. Operational cash flows are improving.
The company was also in a position to increase its full-year dividend to a fully franked 1.7 cents per share.
What now for Cleanaway Waste Management Ltd?
The company is suggesting some turnaround potential. Its price chart suggests investors are just starting to take an interest in this stock.
Customer churn rates are improving — always a good sign. And, based on the company restructure over the previous year, operational earnings are now in a position to start showing signs of improvement.
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