Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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Shanks Group PLC (RWI)

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Friday 31 March, 2006

Shanks Group PLC

Pre-Close Trading Statement

Shanks Group PLC
31 March 2006

31 March 2006

Company Announcement

Shanks Group plc Pre-Close Period Trading Statement

Shanks Group plc, a leading European waste management company today issues the
following pre-close period trading statement. The Group's preliminary
announcement of the results for the year to 31 March 2006 will be published on
Thursday 1 June 2006.

The Group announces that, except for a small negative impact on Profit Before
Tax due to an additional IFRS accounting change detailed below, overall trading
for the year to 31 March 2006 is in line with its expectations.

Following the recent disposal of the hazardous waste operations, the
restructuring of the UK business is substantially complete. Management's
attention is now dedicated to growing the ongoing businesses where performance
continues to improve. The Group is pursuing opportunities in the increasingly
active UK market for long-term municipal waste management contracts, bids having
recently been submitted for 25-year PFI contracts at Greater Manchester,
Cambridgeshire and Cumbria. Further news on the progress of these bids is
expected in 2006/7, however none of the contracts is likely to reach financial
close until 2007/8.

The Mainland European operations continue to perform robustly. There are signs
of improvement in the construction sector in The Netherlands although more
generally economic conditions remain flat. In June 2005 new landfill regulations
came into force in Germany severely restricting the types of waste that can be
landfilled. This has all but extinguished exports of waste from The Netherlands
to Germany, causing Dutch elimination costs to rise sharply. Shanks is
mitigating the impact of these increased costs by identifying alternative
elimination routes and increasing prices to our customers. The ongoing effect at
the close of the year is therefore substantially reduced when compared to the
initial impact.

From 1 April 2005 the Group has adopted International Financial Reporting
Standards (IFRS). IFRS are still in their early stages and interpretation of the
standards and generally accepted practice is still evolving. Since the
publication of the Interim results in November 2005 there has been a move to
'Financial Asset' accounting for PFI contracts. This is based on the
International Financial Reporting Interpretations Committee (IFRIC) draft
interpretation D12 - 'Service Concession Arrangements - Determining the
Accounting Model'. In light of this draft interpretation and the approach being
adopted by other companies involved in the PFI sector, the Group has concluded
that it is appropriate to adopt the 'Financial Asset' treatment in respect of
its PFI activities. The impact of this change is to divide the transactions into
two parts for accounting purposes:

  • the financing of the construction of assets for the local authority;
  • the provision of waste management services using existing assets as well
    as those created under the contract.

The income stream from the waste authority is allocated between the two parts,
that attributed to the service contract is treated as sales, which after
operating costs produces an operating profit. The part relating to the
construction of assets is treated as funding cash flows (i.e. repayment of
capital and interest). In the balance sheet the costs relating to the
construction of the assets are classified as an interest bearing 'financial
asset'. It is the Group's opinion that this treatment better reflects the
commercial substance of the transactions and provides greater transparency for
the financial community.

The adoption of 'Financial Asset' accounting is expected to have a small
negative impact on Profit Before Tax for the year ending 31 March 2006, but will
result in more significant reclassifications between Turnover, Operating Profit
and Interest. There is no effect on the cash flows of the PFI projects, all of
which are progressing as planned.


For further information contact:

Michael Averill, Group Chief Executive
Fraser Welham, Group Finance Director
Shanks Group plc, telephone +44 (0)1628 554920

Ginny Pulbrook, Executive Director, Citigate Dewe Rogerson
Fiona Bradshaw, Associate Director, Citigate Dewe Rogerson

Telephone +44 (0) 207 282 2945

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                  

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