Waste firm has some rubbish results for 2015 hproblems

Caitlin Morrison
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WASTE company Shanks swung to a loss in the 2015 financial year, after a challenging first half could not be offset by improvements in the second.

The firm reported a post-tax loss of £18.2m, down from £1.8m profit in 2014, as revenue dropped to £601.4m from £633.4m. Shanks was hit by pressure in the Benelux solid waste market in the first half of the year.

However, chief executive, Peter Dilnot said the waste-to-recycled product firm’s Dutch markets are developing “with some encouraging evidence of improvement”, and added: “We continue to invest in infrastructure... and these projects are on track.”