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Shanks to focus investments on UK market

Shanks Group plans to focus future investment on the UK market, according to a pre-close statement released today (28 March).

It said: “Plans are well advanced for continued investment, with a particular emphasis on the UK market, where we believe the regulatory and legislative drivers are in place to support significant growth opportunities.”

More detail of Shanks’ investment plans are to be revealed when it announces 2010/11 full-year results.

The listed company also reported that it has completed its re-financing programme. It has secured an extra €40m (£35.1m) of longer term debt with maturity until April 2018 from Pricoa Capital Group. This follows the completion of the €100m 2015 Benelux retail bond in October 2010 and the €200m 2015 bank financing in 2011.


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