The British waste management company Shanks Group plc increased its revenue and adjusted earnings in the first half of its business year. However, extraordinary charges brought on by the planned merger with Dutch competitor Van Gansewinkel pushed its after-tax earnings into negative territory. The concern reported a loss of £3.4m (around €4m) for the half ended 30 September.
Shanks' sales stood at £348m. Compared with the first financial half of the 2015/16 year, this represented an increase of 17 per cent, which was only partly due to the weakness of the British pound. Adjusted for currency effects, turnover had still increased by 7 per cent. Shanks generates more than two thirds of its revenue in the Benelux region.
