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Hargreaves Services

April 2008

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • HSP
  • Price:
  • 508p
Hargreaves Services once again showed its class with a very strong set of half year results which beat forecasts. Turnover increased 70% to £174m, while  pretax profit rose 61% to £7.1m. Eps increased 33% to 17.6p. Net debt rose by £18.5m to £56.9m reflecting acquisition costs and a build-up in working capital caused by an increase in coke prices. Hargreaves’ minerals division (coal importing) increased revenues 69% to £113m, while operating profit rose 43% to £3m. With coal volumes and order books from power stations remaining strong this side is gearing up for a busy second half. Elsewhere the transport and waste division (bulk haulage and waste transportation) saw turnover rise 16% to £30.5m and while opera ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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