Shanks Group heeft in afgelopen boekjaar een solide prestatie geleverd in zeer uitdagende marktomstandigheden. De totale omzet daalde met 11% van GBP 750,1 miljoen naar GBP 670,0 miljoen. Deze daling werd met name veroorzaakt door een omzet in de Solid Waste divisie die GBP 76 miljoen lager uitviel. Als een resultaat van lagere volumes en prijsdruk, daalde de winst met 23% tot GBP 41,3 miljoen (2012: GBP 53,4 miljoen).
Peter Dilnot, Group Chief Executive van Shanks Group verteld het volgende:
"It has been a challenging, yet transformational, year for Shanks. Whilst we have faced tough market conditions which have clearly impacted the performance of the business, we have also made significant progress in positioning the Group for the future.
During the year, we have taken decisive and effective action to respond to the immediate market headwinds. This included launching a structural cost programme which will deliver over £20m annual savings by 2015/16. We are on track with our plans, with significant capacity reductions implemented and 310 employees having left the business during the financial year. We have also managed cash tightly and maintain a strong balance sheet despite our reduced current earnings.
In parallel with protecting our short-term position, we have made good progress with building a platform for growth. We successfully reorganised the Group into four new market-facing divisions: Solid Waste, Hazardous Waste, Organics and UK Municipal. This structure enables us to manage the business much more effectively and is already delivering benefits. In the last year, we also created a new Executive Committee through a combination of new hires and internal promotions. Finally, we are actively continuing to manage our portfolio and have already sold some non-core assets.
In the short term, market conditions look set to remain challenging, especially in Solid Waste. However, the underlying growth opportunities for the Group remain in place and we are well underway with repositioning Shanks for sustained profit growth and long-term value creation. I am therefore confident that Shanks is on track to emerge leaner, more focused and much stronger for the future."
Het Jaarverslag van Shanks Group is te downloaden via deze link.