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Shanks says weakness in Dutch solid waste unit to hit first half

Reuters - UK Focus

July 21 (Reuters) - British waste manager Shanks Group Plc (Other OTC: SHMCF - news) said first-half results would be hurt by a strengthening pound and further 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.

The company said it expected full-year results broadly in line with expectations if the solid waste market did not weaken further in the three markets. (Reporting by Richa Naidu in Bangalore; Editing by Gopakumar Warrier)