REG - Hargreaves Servs PLC - Positive Contract Awards in Services

Hargreaves ServicesAnnouncement

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RNS Number : 3880V  Hargreaves Services PLC  05 March 2026

HARGREAVES SERVICES PLC

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

 

Positive Contract Awards in Services

Revenue and Profit Before Tax upgrade for the year ending 31 May 2027

 

Hargreaves Services plc (AIM: HSP), a diversified group delivering services to
the environmental, infrastructure and property sectors announces two new
contract positions.

 

The Group announces it has been appointed by Balfour Beatty and awarded an
enabling earthworks subcontract at Lower Thames Crossing ('LTC') representing
aggregate gross revenues of £10m.

 

The enabling earthworks subcontract for the Roads North of the Thames is
scheduled to commence in late FY26 with the bulk of the work being undertaken
in the financial year ending 31 May 2027. This subcontract represents a
significant advancement in the Group's involvement with the strategically
important Lower Thames Crossing infrastructure project. In addition, the Group
is actively engaged in discussions regarding the Enterprise Agreement for the
main earthworks associated with the Roads North of the Thames.

 

The contract progresses the Group's commitment to carbon free Earthworks by
2040 through the first UK deployment of battery electric heavy earthmoving
equipment. This follows successful trials at Sizewell C Nuclear Power Station.

 

In addition to the subcontract with Lower Thames Crossing, the Group has also
secured a position at Drax Power Station to build out a beneficiation plant on
behalf of Power Minerals Limited. The plant will process up to 400,000 tonnes
of legacy ash into Supplementary Cementitious Material, which is a key
ingredient in the production of low carbon cement and concrete in the UK.

 

The Services Division, Hargreaves Land and the Group's Joint Venture in HRMS
have continued to trade in line with expectations.

 

Following these awarded contracts and the increased revenue visibility the
Group are upgrading market expectations* for Revenue and Profit before Tax for
the year ending 31 May 2027 by 4% each.

 

Interim Dividend

The Board have announced that the interim dividend for the financial year
ending 31 May 2026 will now be paid on 31 March 2026 to shareholders on the
register as at 20 March 2026.

 

 

*The Company considers consensus market expectations prior to the release of
this announcement for the year ending 31 May 2027 to be revenue of £285.2m,
underlying PBT of £23.5m, EPS of 50.5p and cash of £17.2m.

 

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
 Anna Dunphy

                                          07876 741 001

 Singer Capital Markets (Nomad and Joint Corporate Broker)

 Phil Davies, Sara Hale, Dan Ingram                                                             Tel: 020 7496 3000

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

 Adrian Hadden, Jasper Berry, Tim Redfern

 

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

Hargreaves Services plc is a diversified group delivering services to the
environmental, infrastructure 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 und Roheisen GmbH ("DK"), 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, South Africa and a joint venture in Duisburg, Germany.

 

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