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.
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.
-
Reeves urged to axe stamp duty from UK shares held in an ISAChancellor Rachel Reeves is reportedly considering axing stamp duty from UK shares held in stocks and shares ISAs. What could it mean for your portfolio?
-
Family investment companies explained: how the ultra wealthy shield their money from the taxmanWealthy families are increasingly turning to family investment companies to keep more of their money away from HMRC – but what are these arrangements and how do they work?
