Hargreaves Services (HSP)

Sector:

Manufacturing

Index:

FTSE AIM All-Share

560.00p
   
  • Change Today:
      5.00p
  • 52 Week High: 580.00
  • 52 Week Low: 394.50
  • Currency: UK Pounds
  • Shares Issued: 32.72m
  • Volume: 11,164
  • Market Cap: £183.23m
  • RiskGrade: 224

Strong Germany performance to lift Hargreaves Services results

By Josh White

Date: Tuesday 15 Mar 2022

LONDON (ShareCast) - (Sharecast News) - Industrial and property service provider Hargreaves Services announced further improvements to its expected trading results for year ending 31 May on Tuesday, due to a strong performance at its German joint venture Hargreaves Raw Materials Services (HRMS).
The AIM-traded firm said results within both the HRMS materials trading business and its subsidiary DK Recycling und Roheisen were exceeding expectations.

Current commodity prices, specifically pig iron and zinc, were continuing to have a positive benefit on the results of both businesses.

The board said it was now confident that HRMS had sufficient visibility for the rest of the current financial year, and expected its contribution to Hargreaves' results in the second half to exceed that recorded in the first half.

It said that, while it was not possible to predict how long such favourable market conditions would exist, it now expected some beneficial impact to continue into the first half of the 2023 financial year.

Additionally, as a result of operational improvements at DK, it said future profitability from HRMS was expected to be at least 30% higher than current market expectations, even if current levels of commodity pricing were not sustained.

Hargreaves said HRMS was continuing to deploy generated cash to fund the working capital needed to support its current high levels of activity.

The rest of the group's businesses, meanwhile, were trading in line with market expectations.

"Whilst current market conditions are contributing to very strong HRMS results, I am particularly pleased to see the underlying improvements that the management team has implemented at DK, providing a reliable platform for sustainable future profitability," said chairman Roger McDowell.

At 1317 GMT, shares in Hargreaves Services were up 12.55% at 538p.

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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 5.00p
% Change 0.90 %
52 Week High 580.00
52 Week Low 394.50
Volume 11,164
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 18-Jul-2024

Time Volume / Share Price
16:35 621 @ 560.00p
16:35 15 @ 560.00p
16:35 23 @ 560.00p
16:35 26 @ 560.00p
16:35 41 @ 560.00p

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