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Shanks on course for FY
Tue, 07 Feb, 2012
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Shanks on course for FY
Thu, 22 Jul 2010, 08:21:00
Waste management firm <b>Shanks</b> said trading has been line with expectations in the quarter to 30 June 2010 and is set to meet full year expectations. Shanks said returns from its strategic investment programme and improvements in PFI margins are offsetting the expected one off decline in the Belgian landfill and adverse currency movements. In the medium term the group said it remains well positioned to benefit from the continuation of this underlying growth and the cyclical recovery. "Underlying market conditions have been generally as anticipated, with improved recyclate prices, new contract volumes and further cost saving initiatives offsetting expected volume reductions and pricing pressures," the group said. Despite remaining cautious about the near term macro economic outlook, Shanks expects these actions will produce strong underlying growth in the current year. "We expect the full year results to be in line with our expectations," it said.
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