EUWID - Recycling and Waste Management

British waste management company Shanks Group plc said that performance in the half ended 30 June 2010 had met expectations, with improved prices for recyclate, new contracts and continued benefits from cost-saving measures balancing out volumes reductions and the effects of pricing pressures. In its interim guidance statement issued prior to the group's annual general meeting, Shanks noted that the anticipated drop in revenues from its Belgian landfill activities and unfavourable currency effects had been offset by improvements in margins from private finance initiative (PFI) contracts and returns from its strategic investment programme. Shanks was beginning to see the results of its investments, with a number of plants coming online in the reporting period, among them a composting facility with a capactiy of 100,000 tonne per year in Ottawa, Canada, which belongs to Shanks' Orgaworld subsidiary.