Shanks profit shrinks

Waste management firm Shanks said half year profit fell 29 per cent as markets in the UK and Netherlands are hit by recession and record lows on construction output.

Waste management firm Shanks said half year profit fell 29 per cent as markets in the UK and Netherlands are hit by recession and record lows on construction output.

Underlying profit before tax fell to £14.3m for the six months ended September 30th 2012 versus £20.2m the same time a year earlier. Revenue dropped to £339.6m during the period from £397.7m previously.

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