Hargreaves Services (HSP)

Sector:

Manufacturing

Index:

FTSE AIM All-Share

 560.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 580.00p
  • 52 Week Low: 394.50p
  • Currency: UK Pounds
  • Shares Issued: 32.72m
  • Volume: 0
  • Market Cap: £183.23m
  • RiskGrade: 224

Hargreaves Services on track despite tough first half

By Josh White

Date: Wednesday 27 Jan 2021

LONDON (ShareCast) - (Sharecast News) - Industrial and property service provider Hargreaves Services said on Wednesday that as expected, revenue and underlying profit before tax in its first half were both lower year-on-year, primarily due to the phasing of works on the HS2 project within its specialist earthworks business.
The AIM-traded firm said revenue for the six months ended 30 November was £92m, down from £124.7m year-on-year, as its underlying profit before tax was £1.1m, falling from £2.4m a year earlier.

Underlying earnings per share fell to 3.4p from 6.4p, while earnings per share were also 3.4p, down from 13.6p.

Its board did reinstate the interim dividend at 2.7p, compared to a nil payment a year earlier, while its net bank debt was reduced by 69% to £8m.

The company's German joint venture was a particular bright spot, with its profit after tax growing 37% to £0.9m.

Hargreaves noted the disposal of its speciality coal business for £24m since the period ended, eliminating bank borrowing, as well as the completion of the first sale of land at Blindwells since the end of the first half.

"The group has traded resiliently through the period and continues to do so although the delays to HS2 have been frustrating and have impacted the headline results adversely," said chairman Roger McDowell.

"The German joint venture continues to deliver profits in a challenging economic environment."

McDowell said the company had made "significant progress" in reshaping its future beyond coal.

"The reduction in net bank debt in the period was substantial and it has been eliminated totally after the period ended as a result of the sale of speciality coal.

"The board expects to report results for the full financial year in line with expectations."

At 1107 GMT, shares in Hargreaves Services were down 4.25% at 256.6p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

HSP Market Data

Currency UK Pounds
Share Price 560.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 580.00p
52 Week Low 394.50p
Volume 0
Shares Issued 32.72m
Market Cap £183.23m
RiskGrade 224

HSP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
86.19% above the market average86.19% above the market average86.19% above the market average86.19% above the market average86.19% above the market average
83.33% above the sector average83.33% above the sector average83.33% above the sector average83.33% above the sector average83.33% above the sector average
Price Trend
78.52% above the market average78.52% above the market average78.52% above the market average78.52% above the market average78.52% above the market average
53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average
Income
63.75% above the market average63.75% above the market average63.75% above the market average63.75% above the market average63.75% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
13.92% above the market average13.92% above the market average13.92% above the market average13.92% above the market average13.92% above the market average
7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

HSP Dividends

  Latest Previous
  Interim Final
Ex-Div 21-Mar-24 21-Sep-23
Paid 11-Apr-24 30-Oct-23
Amount 18.00p 6.00p

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

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