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.
-
ScottishPower launches half-price electricity at weekendsNews ScottishPower is offering 50% off electricity at weekends, which could slash hundreds off your bill. We look at who can get it and how to apply
-
Trump calls “tariff” the “most beautiful word in the dictionary”, but investors may disagreeDonald Trump has promised to slap Mexico, Canada and China with new tariffs on day one of his presidency. What does it mean for the economy and investors?
