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Shanks' revenue rises driven by Hazardous Waste, UK Municipal units

Reuters - UK Focus

May 15 (Reuters) - Waste management (NYSE: WM - news) company Shanks Group Plc (Other OTC: SHMCF - news) posted a 4 percent rise in full-year revenue, driven by growth in its Hazardous Waste and UK Municipal businesses.

Shanks, which sorts and reprocesses commercial, industrial and construction waste to produce usable fuel, fertilizers and other energy products, said Solid Waste Benelux - its biggest division by revenue - clocked profit growth for the first time in five years.

Revenue excluding discontinued operations rose to 636.4 million pounds ($1.1 billion) in the full year ended March 31 from 614.6 million pounds a year earlier. It was up only 1 percent at constant currency.

An exit from its underperformining UK Solid Waste business helped reported underlying pretax profit rise 14 percent to 30.2 million pounds, Shanks said. ($1 = 0.5960 British Pounds) (Reporting by Esha Vaish in Bangalore; Editing by Sunil Nair)