Pre-Close Statement

RNS Number : 7453A

Shanks Group PLC

04 April 2012

 



Pre-Close Statement 4 April 2012

Shanks Group plc, one of Europe's leading waste management businesses, provides a pre-close trading update for the year ended 31 March 2012. Trading Performance for the year ended 31 March 2012 Since the Interim Management Statement on 7 February 2012, the Group has delivered a robust performance in trading conditions which have remained challenging. Accordingly, we anticipate that we will report a full year result in line with our expectations. UK Municipal We were pleased to announce the achievement of financial close on the 25 year contract with Barnsley, Doncaster and Rotherham Councils earlier this week, worth in excess of £750 million. Progress continues on achieving financial close on the Wakefield contract. Cash and borrowings The balance sheet remains strong and the ratio of core net debt to EBITDA at 31 March 2012 was estimated to be between 1.7 and 1.8 times. The full year results for the year ended 31 March 2012 will be announced on 17 May 2012. Enquiries: Shanks Group plc Austen Lees, Head of Corporate Communications      Tel: [phone] College Hill

Mike Davies                                                                  Tel: [phone] Helen Tarbet

 

END

 

 

TSTXXLFBLZFEBBD