REG - Hargreaves Servs PLC - Trading Update and Notice of Interim Results

Hargreaves ServicesAnnouncement

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RNS Number : 0445L  Hargreaves Services PLC  11 December 2025

 

Hargreaves Services plc

("Hargreaves", the "Company" or the "Group")

 

Trading Update and Notice of Interim Results

 

Hargreaves Services plc (AIM: HSP), a diversified group delivering services
to the environmental, infrastructure and property sectors, provides the
following trading update ahead of reporting its interim results for the six
months ended 30 November 2025.

 

The Board expects to report another strong set of results for the period with
growth in both revenue and profit before tax.

 

Revenue improvements are expected within both Services and Hargreaves Land
with profit before tax up across all three segments against the comparative
period. The Board remains confident of delivering full year results in line
with market expectations*.

 

The Services business unit has continued to see steady growth in its revenue,
with activities growing on some of the major infrastructure projects. Focus
remains on growing a robust and sustainable contract base into the
infrastructure space. The Services business has seen strong performance across
its target markets of Connectivity, Clean Energy and Environmental services in
the last six months. The business remains resilient with good revenue
visibility supported by a strong and growing contract base with blue-chip
customers.

 

Hargreaves Land has had a strong first half, which has seen the sale of the
first tranche of the Group's renewable energy land assets. This marks a
significant step forward in the Group's strategy to first create and then
realise value from these assets. Furthermore, Hargreaves Land completed a
material sale at its Blindwells development outside of Edinburgh which has led
to an improvement in the expected result for the first half over the
comparative period.

 

The Group's joint venture, HRMS, has continued to trade steadily across the
first six months of the year. The performance of the DK Recycling business has
been satisfactory for the period across an economic environment that has
continued to be challenging.

 

On 30 November 2025 the Group held cash of £37.3m (Nov 2024: £15.7m), this
increase in cash is reflective of the completion of the first tranche of the
renewable energy land assets, sales within Hargreaves Land and ongoing
positive trading within the Services business. The Group also had leasing debt
of approximately £43.2m (Nov 2024: £34.6m) and is free from bank debt, the
increase supports the continued growth in Services activity.

 

Notice of Interim Results

The Board expects to report its interim results for the six months ended 30
November 2025 on Wednesday 28 January 2026. Details of the analyst and
investor meetings which will accompany the results will be provided in due
course.

 

Investors can sign up to Investor Meet Company for free, add to meet
Hargreaves and receive invitations as soon as they're issued here
(https://www.investormeetcompany.com/hargreaves-services-plc/register-investor)
.

 

*The Company considers that market expectations prior to the release of this
announcement for the year ended 31 May 2026 to be revenue of £270.9m, PBT of
£24.2m and earnings per share of 53.3p.

 

For further details:

 

 Hargreaves Services                                                 www.hsgplc.co.uk (http://www.hsgplc.co.uk)

 Gordon Banham, Chief Executive Officer                              Tel: 0191 373 4485

 Stephen Craigen, Chief Financial Officer

 Simon Hicks, Chief Operating Officer

 Walbrook PR (Financial PR & IR)       Tel: 020 7933 8780 or hargreavesservices@walbrookpr.com

                                     (mailto:hargreavesservices@walbrookpr.com)
 Paul McManus, Lianne Applegarth

                                     Mob: 07980 541 893 / 07584 391 303
 Joe Walker

                                     07407 020 470

 Singer Capital Markets (Nomad and Joint Corporate Broker)                                   Tel: 020 7496 3000

 Phil Davies, Sara Hale, Sam Butcher

 Cavendish Capital Markets Ltd (Joint Corporate Broker)              Tel: 020 7220 0500

 Katy Birkin - Corporate Finance

 Jasper Berry / Tim Redfern - Sales / ECM

 

About Hargreaves Services plc (https://www.hsgplc.co.uk/
(https://www.hsgplc.co.uk/) )

Hargreaves Services plc is a diversified group delivering services to the
environmental, 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 Connectivity, Clean Energy  and
Environmental infrastructure 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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