Shanks Group PLC
26 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 Glasgow
today (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 with
our expectations.
The second phase of the East London Waste Authority (ELWA) project is
commissioning in line with the revised schedule. It is expected that the
programme will be complete by the end of the summer.
The recent acquisitions of Orgaworld and Kluivers in the Netherlands are
integrating 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 increase
from 31 March 2007 of £21m due principally to acquisitions. PFI debt, excluding
fair value of interest rate swaps, increased by £4m to £127m as a result of
continuing capital investment on our East London Waste Authority (ELWA)
contract.'
For further information please contact:
Michael Averill, Group Chief Executive
Shanks Group plc
Telephone +44 (0) 1628 554920
Ginny Pulbrook, Executive Director
Citigate Dewe Rogerson
Telephone +44 (0) 207 282 2945
This information is provided by RNS
The company news service from the London Stock Exchange
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