REG - Hargreaves Servs PLC - Trading Update ahead of Preliminary Results

Hargreaves ServicesAnnouncement

22/07/2021 13:20

RNS Number : 1712G
  
Hargreaves Services PLC
  
22 July 2021
  
 

 
Hargreaves Services plc 
("Hargreaves" or the "Group")
 
Trading Update ahead of Preliminary Results
 
Hargreaves Services plc (AIM: HSP), a diversified group delivering services to the industrial and property sectors, provides the following update on the trading of its German joint venture, Hargreaves Raw Materials Services GmbH ("HRMS").
 
The Board has previously commented on the very strong commodity market conditions which are being experienced by HRMS. Following the completion of the financial year ended 31 May 2021, the management of HRMS have reported a profit after tax of £13.6m, much stronger results than expected. Additionally, HRMS has secured a number of forward trading positions which give great confidence to the Board that HRMS can continue to benefit from these market conditions throughout the first six months of the year ending 31 May 2022 at least. As a result, the Board now expects that the Group results for the year ending 31 May 2022 will materially exceed market expectations.
 
The Group will report its preliminary results for the year ended 31 May 2021 on Wednesday 28 July 2021.
 
For further details: 
 




Hargreaves Services
Gordon Banham, Chief Executive Officer
John Samuel, Group Finance Director
 


www.hsgplc.co.uk
Tel: 0191 373 4485




Walbrook PR (Financial PR & IR)
Paul McManus / Lianne Cawthorne
 


Tel: 020 7933 8780 or hargreavesservices@walbrookpr.com
Mob: 07980 541 893 / 07584 391 303
 




N+1 Singer (Nomad and Joint Corporate Broker)
Sandy Fraser/Justin McKeegan/Rachel Hayes
 


Tel: 020 7496 3000




Investec (Joint Corporate Broker)
Sara Hale/David Anderson/Shalin Bhamra


Tel: 020 7597 5970
 



 
 
 



 
About Hargreaves Services plc (www.hsgplc.co.uk)
Hargreaves Services plc is a diversified group delivering services to the industrial and property sectors, supporting key industries within the UK and South East Asia. The Company's three business segments are Services, Hargreaves Land and an investment in a German joint venture, Hargreaves Raw Materials Services GmbH (HRMS). Services provides critical support to many core industries including Energy, Environmental, UK Infrastructure and certain manufacturing industries through the provision of materials handling, mechanical and electrical contracting services, logistics and major earthworks. Hargreaves Land is focused on the sustainable development of brownfield sites for both residential and commercial purposes. HRMS trades in specialist commodity markets and owns DK Recycling, a specialist recycler of steel waste material. Hargreaves is headquartered in County Durham and has operational centres across the UK, as well as in Hong Kong and a joint venture in Duisburg, Germany.

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