Waste management firm Shanks delivered a 20% increase in underlying half-year profit, upped its dividend 10% and named Peter Dilnot as chief executive.
For the six months ended 30 September 2011 revenue was 11% at constant currency to £398m. Underlying pre-tax profit rose to £20.8m from £16.8m the same time a year earlier.
The group said it is on track to achieve the company forecasts for the full year.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Commenting on the results, acting chief executive Chris Surch said, "These are good results which demonstrate our ability to deliver continued growth of revenues and profits against a challenging macro-economic background."
"They reflect the success of our strategic focus on recycling and re-processing which has helped us to increase our overall recycling rate to 80% of all waste handled."
Shanks recommended an interim dividend of 1.1p per share, a 10% on last year.
Dilnot, who has worked for Danaher Corporation since 2005, will take up his new role on 1 February 2012.
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
