Thursday, Shanks Group Plc (SKS.L) reported a loss for the first-half, mainly hurt by higher taxes, and said its board increased interim dividend by 5%.
For the six months ended September 30, 2008, the company reported a loss of GBP 6.7 million or 2.8 pence per share, compared to a profit of GBP 16.0 million or 6.8 pence per share in the year-ago period.
Pre- tax profit for the latest period climbed to GBP 24.6 million from GBP 23.1 million in the prior year.
Underlying profit after tax for the six-month period totaled GBP 17.4 million, up 17% from GBP 14.9 million in the previous year. Underlying earnings per share grew 16% to 7.3 pence from 6.3 pence in the comparable period a year earlier.
Six-month underlying profit before tax increased 13% to GBP 24.7 million from GBP 21.9 million in the same period last year.
First-half revenue amounted to GBP 351 million, a 30% increase from GBP 271 million in the prior year.
The company's operating profit for six months was GBP 33 million, higher than GBP 27 million in the year-ago period. Trading profit for the latest period grew 23% to GBP 33.3 million from GBP 27.0 million in the previous year.
For the most recent period, Shanks Group reported total tax of GBP 31.3 million, compared to GBP 7.1 million in the comparable period a year earlier.
The company also said its Board has increased the interim dividend by 5% to 2.1 pence per share from 2.0 pence per share in the year-ago period.
Looking ahead, the company said it remains confident of achieving its expectations for the current year and making further progress in the future.
SKS.L is currently trading at 138.75 pence, down 1.25 pence or 0.89%, on a volume of 19 thousand shares.
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