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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Hargreaves - Eps on track to rise from 50p to 75p

April 2009

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:
  • 475p
After flagging last month that it would beat expectations Hargreaves' interim results duly delivered, sending the shares soaring back above £6 at one point. For the six months to 30 November turnover increased 70% to £297m while pretax profit rose 96% to £13.9m. Reflecting a seasonal build-up in stocks net debt increased from £46m to almost £73m.Hargreaves' single biggest area of activity is its production assets, which comprise Maltby Colliery and Monckton Coke Works and these more than doubled operating profit from £4m to £8.3m. The group continues to benefit from the forward sales of product on long-term contracts, although the current spot price remains  £15 a tonne or 35% higher than when Hargreaves a ...

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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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