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Hargreaves Services

April 2010

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:
  • 677p
Following its detailed pre-close update there was little “new†news in Hargreaves' interims, which showed growth remaining well on track. For the six months to 30 November, underlying pretax profit rose nearly 19% to £16.5m, while eps increased 20% to 34.3p. Energy & Commodities increased operating profit a massive 138% to £10.7m, reflecting a strong performance in the speciality coal markets in the UK and Europe, helped by new operations in Belgium and Poland. Elsewhere, the Production Division saw profits more than halved from £8.3m to £3.9m but that reflected geological anomalies and issues with new equipment, both one-off problems now resolved. This side will also benefit from the new RocPower renewable elect ...

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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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