Bingo Industries (BIN) v Cleanaway Waste (CWY)

Over the last 3-months the performance differential in the waste management industry has been significant, BIN has rallied +25% while CWY has fallen almost 5%. The later has been slammed in the media on a number of fronts and while the issues are real they can be addressed to make the business a healthier corporate environment moving forward – whether the boss Vik Bansal can remain and thrive is still a bone of contention after a number of bullying claims.

We hold BIN in our Growth Portfolio and are hence watching the valuation elastic band carefully, at this stage we’re sitting on our hands but a differential much over 50c this year hasn’t lasted long – we are monitoring carefully but at this stage BIN remains our preferred option.