26th Jul 2007 07:00
Shanks Group PLC26 July 2007 Shanks Group plc, a leading European waste management company AGM Statement and Interim Management Statement 26 July 2007 Reporting to shareholders at the Company's Annual General Meeting in Glasgowtoday (26 July) the Group Chairman Adrian Auer will say: "I am pleased to report that trading for the year to date has been in line withour expectations. The second phase of the East London Waste Authority (ELWA) project iscommissioning in line with the revised schedule. It is expected that theprogramme will be complete by the end of the summer. The recent acquisitions of Orgaworld and Kluivers in the Netherlands areintegrating well into Shanks Netherlands and performing in line with our plans. The Group's core net debt position as at 30 June 2007 was £155m, an increasefrom 31 March 2007 of £21m due principally to acquisitions. PFI debt, excludingfair value of interest rate swaps, increased by £4m to £127m as a result ofcontinuing capital investment on our East London Waste Authority (ELWA)contract." For further information please contact: Michael Averill, Group Chief ExecutiveShanks Group plcTelephone +44 (0) 1628 554920 Ginny Pulbrook, Executive DirectorCitigate Dewe RogersonTelephone +44 (0) 207 282 2945 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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