Peter Dilnot, CEO, explains in the group’s annual report that “after a successful 2013/14, the 2014/15 financial year proved more challenging. A further downturn in our core Benelux Solid Waste markets, coupled with one-off operational issues in Hazardous Waste resulted in a disappointing first half percormance.”
The revenue for the Solid Waste Benelux Division was down by 8 percent with a trading profit decrease of 40 percent. Hazardous Waste (-7/-18 percent) and Organics (-12/-17 percent) also did worse than the year before. The only area Shanks was able to increase revenue and trading profit was UK Municipal (+5/+9 percent).
The group has implemented a new divisional structure that consist of three divisions: Commercial, Municipal and Hazardous. The organics division will be incorporated within the Commercial and Municipal divisions.
Despite last year’s figures, Dilnot is quite optimistic: “The board’s expectations for 2015/2016 remain unchanged excluding the impact of a fluctuating Euro/Sterling exchange rate on our reported results.”