26 September 2012 – trading update
A trading update has revealed that results for the current year are now set to fall slightly below expectations. The UK and Dutch Solid Waste businesses have been impacted by economic conditions and record lows in construction output. There has been pressure on margins but cost reduction programmes are already delivering benefits. Interim results are due out on 8 November but we believe in the long term prospects for Shanks and maintain our BUY rating.