30th Mar 2007 07:01
Shanks Group PLC30 March 2007 Shanks Group plc Pre Close Trading Statement 30 March 2007 Shanks Group plc, a leading European waste management company, today issues thefollowing pre close period trading statement. The Group's preliminaryannouncement of the results for the year to 31 March 2007 will be published onThursday 31 May 2007. Overall trading for the year to 31 March 2007 is expected to be in line with ourexpectations. The Mainland European operations have performed well in the period. Theacquisition of Smink Beheer BV in The Netherlands continues to perform in linewith our acquisition plan as co-operation with other Shanks Netherlandscompanies increases. Trading in Belgium has again been strongly assisted bysome substantial non recurring projects. In the UK, the acquisition of the waste management and recycling activities ofJohn W Hannay and Co Ltd has considerably strengthened our position in theCentral Belt of Scotland. The business has been integrated into existing Shanksoperations with additional investments also being made in new recyclinginfrastructure. The programme is proceeding according to plan and is expectedto be of increasing significance when new regulations require the pre treatmentof all waste prior to landfill from October 2007. UK Contaminated Land activity has been modest throughout the year but isexpected to improve during the 2007/8 year particularly with work associatedwith the 2012 Olympic Games. The first Mechanical Biological Treatment (MBT) facility at East London WasteAuthority (ELWA) project is now fully operational as is the MBT plant for theDumfries and Galloway contract. Substantial quantities of the solid recoveredfuel generated by the MBT process are now being regularly delivered to thecement industry. The second phase of the ELWA project has experienced a delaydue to the insolvency of a subcontractor. Although now resolved there will be afour month unrecoverable delay leading to higher than planned operating costs inthe early part of the 2007/8 year. Potential within the UK municipal waste market remains high with the Grouprecently appointed as preferred bidder for Cumbria County Council and to theshort list to bid for Derbyshire's waste elimination needs. Ends For further information please contact: Michael Averill, Group Chief ExecutiveFraser Welham, Group Finance DirectorShanks Group plcTelephone +44 (0) 1628 554920 Ginny Pulbrook, Executive Director, Citigate 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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