Hargreaves Services (HSP)

Sector:

Manufacturing

Index:

FTSE AIM All-Share

 560.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 580.00
  • 52 Week Low: 394.50
  • Currency: UK Pounds
  • Shares Issued: 32.72m
  • Volume: 74,557
  • Market Cap: £183.23m
  • RiskGrade: 224

Hargreaves Services confident in full-year performance

By Josh White

Date: Tuesday 06 Dec 2022

LONDON (ShareCast) - (Sharecast News) - Industrial and property service provider Hargreaves Services said in an update on Tuesday that it expected a "strong" set of results for the half-year just ended, with both revenue and profit before tax set to be higher year-on-year.
The AIM-traded firm said improvement occurred in each of its three business segments in the six months ended 30 November, being services, Hargreaves Land and its Germany joint venture, HRMS.

It said the services business experienced growth in revenue and profit, primarily due to an increase in activity on the HS2 contract, which benefited the current period, while underlying contracts also performed well.

"The services business remains resilient to the current economic uncertainty, with over 50 term and framework contracts, most of which contain cost escalator clauses or are 'cost-plus' in nature, continuing to provide a reliable profit stream," the board said in its statement.

Hargreaves Land, meanwhile, completed another sale at Blindwells in the first half, disposing of 4.5 acres to Ogilvie Homes in a deal worth £3.4m.

That, the directors said, demonstrated the long-term recurring revenue generated from the site.

Finally, while trading conditions in Germany had softened since the second half of the prior period, Hargreaves said they remained "strong", adding that the joint venture was expected to deliver stronger results year-on-year.

"As noted previously, the limited visibility within this business and the current uncertainty within German industrial markets means that the likely outcome for the second half of the year remains less clear."

As at 30 November, the group had cash and cash equivalents of £18.1m, compared to £13.8m on 31 May 2022.

The company said it also had leasing debt totalling £30.6m, widening from £18.4m at the end of May, which it put down to the additional plant acquired to service the HS2 contract.

"The board remains confident of delivering full-year results in line with market expectations."

At 1545 GMT, shares in Hargreaves Services were up 0.87% at 348p.

Reporting by Josh White for Sharecast.com.

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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 580.00
52 Week Low 394.50
Volume 74,557
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
78.42% above the market average78.42% above the market average78.42% above the market average78.42% above the market average78.42% above the market average
69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average69.23% above the sector average
Income
63.96% above the market average63.96% above the market average63.96% above the market average63.96% above the market average63.96% 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
14.07% above the market average14.07% above the market average14.07% above the market average14.07% above the market average14.07% 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
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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 19-Jul-2024

Time Volume / Share Price
16:12 5,500 @ 567.74p
17:07 5,500 @ 560.00p
16:35 2,326 @ 560.00p
16:35 999 @ 560.00p
16:35 397 @ 560.00p

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