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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Hargreaves Services - Target price 1500p

November 2011

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:
  • 1080p
Shares in Hargreaves Services, which we originally added to the portfolio in 2006 at 414p and revisited as a main write-up in November '09 at 745p, woke up with a bang after final results triggered sharp upgrades to forecasts. For the year to 31 May the company reported a pretax profit up 18% to £40.5m, while eps was up 19.7% to 103.7p. Net debt fell one quarter to £66m. Hargreaves operates an energy support services business focused on coal. The largest side, mineral trading, increased operating profit 15% to £25.9m (55% of total). This side is involved in solid fuel trading such as power station coal and more specialised products such as sized coals, coke and biomass. Overall volumes traded increased from 2,258k tonnes to 2,3 ...

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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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