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Shanks warns of lower-than-expected full-year results

Reuters - UK Focus

Sept 26 (Reuters) - British waste manager Shanks Group Plc (Other OTC: SHMCF - news) said it expected full-year results to be about 15 percent below management's estimates, hurt by weakness at its solid waste business in Belgium, the Netherlands and Luxembourg.

Solid (KOSDAQ: 050890.KQ - news) waste, particularly in the Netherlands, was under increased margin pressure due to a further reduction in the volume and prices of key recyclates, as well as aggressive market pricing, Shanks said.

Shanks, one of the largest solid waste managers in the Netherlands, has been struggling to overcome the effects of a long-running slump in the Dutch construction market. (Reporting by Aastha Agnihotri in Bangalore; Editing by Gopakumar Warrier)