Waste management group Shanks said it now expects results for the year to 31 March 2013 to be slightly below the current range of expectations after market conditions in the UK and Dutch solid waste markets deteriorated significantly in the first half.
Shanks said its organics, hazardous waste, and UK municipal businesses continued to perform robustly and in line with company expectations.
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
Chief Executive Peter Dilnot said: "While market conditions in Solid Waste remain very challenging, our Organics, Hazardous Waste and UK Municipal businesses are performing well and we are continuing to invest for future growth."
"Our cost reduction plans are progressing well and, with the new organisation in place, the group remains firmly on track to deliver profitable growth in the medium term."
CJ
-
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?
