Hargreaves Services annual revenue rises 33%, profit nearly doubles
Hargreaves Services annual revenue rises 33%, profit nearly doubles
Overview
UK infrastructure and environmental services firm's revenue rose 33% for the year ended 31 May 2026
Underlying profit before tax nearly doubled, driven by growth in all business units
Company returned £20 mln to shareholders via a tender offer and increased its final dividend
Outlook
Hargreaves Land expects further value realisation from property portfolios
Company sees continued recovery at German joint venture and progress on zinc recycling facility
Result Drivers
INFRASTRUCTURE PROJECTS - Services division growth driven by major UK infrastructure projects, new contract wins, and expanded engineering and waste management services
LAND ASSET SALES - Hargreaves Land profitability increased due to disposal of renewable energy land assets and residential plot sales
GERMANY RECOVERY - Higher profit from German joint venture as trading conditions improved and fuel costs fell
Company press release: ID:nRSc2632Oa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
FY Revenue |
| GBP 351.40 mln |
|
FY Adjusted Pretax Profit |
| GBP 34 mln |
|
FY EBITDA |
| GBP 36.60 mln |
|
FY Pretax Profit |
| GBP 40.30 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the courier, postal, air freight & land-based logistics peer group is "buy."
Wall Street's median 12-month price target for Hargreaves Services PLC is GBp953.50, about 21.6% above its July 28 closing price of GBp784.00
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 13 three months ago
Reuters Recommended Reads
July 27 - Germany's Hochtief H1 operational net profit rises on infrastructure demand; raises guidance
July 29 - Luxembourg's Befesa Q2 revenue rises on higher zinc prices
July 28 - UK's Forterra H1 revenue falls 13.5% amid weak demand
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)