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Shanks restructures ahead of results

Shanks Group has unveiled a new structure and has said its results for 2014-15 will be in line with expectations.

The company said in a statement ahead of its results due on 21 May on its trading performance that the solid waste market remained challenging but had recently stabilised.

Group chief executive Peter Dilnot (pictured) said: “Core markets remain challenging, but we expect to deliver a stronger underlying second half based on our active management of the business. 

“We expect our trading performance for the year ended 31 March 2015 to be broadly in line with the board’s expectations, and our cash performance to be in line with our expectations.” 

Restructuring will see the Canadian organics business combine with the UK municipal business to form a municipal division. 

The company said this change was made because the Canadian business was based on long-term contracts with local authorities, creating synergies with the similar UK operation.

Belgian and Dutch solid waste and organics businesses will combine into a new commercial division.

Shanks’ hazardous waste division is unaffected by the changes.

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