Shanks says results to fall below expectations
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.
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.
However, while the group said it is delivering benefits from the investment programme and cost reduction plans, it warned these will not be enough in the short term to offset the challenging conditions in the Solid Waste markets.
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
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
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
8 of the best converted properties for sale now
The best converted properties for sale – from an apartment in the former Hartley’s Jam factory on London’s Southbank, to a converted 18th-century mill in Itteringham, Norfolk
-
How taking a two-year career break could leave a £26k hole in your pension
Career breaks are increasingly common but it is important to take steps to protect your pension, as gaps compound over time