Hargreaves at a glance

Hargreaves Services plc delivers key projects and services in the infrastructure, energy and property sectors.


Listed on AIM (LON:HSP) and headquartered in Durham, our 2,000+ employees are spread around the world delivering a vast array of projects and services.

Our history is steeped in coal through mining, sourcing, processing and blending, moving and handling. We still have a number of operations and services in the Mining & Minerals sector and now possess one of the largest mobile plant fleets in Europe, but today Hargreaves delivers much more.

After a series of strategic acquisitions, our land portfolio across the UK has increased to in excess of 18,000 acres. Our focus now is on adding value to this land through development with residential housing and renewable energy schemes.

Whilst we still carry out our traditional activities such as industrial services and logistics, these have now broadened to incorporate renewable energy, civil engineering and land restoration and remediation.

Take a look at the various sectors we work in to find out more.

NEWS

08th Jun 2018 Pre-Close Trading Update and Notification of Interim Results
08th Sep 2017 Posting of Annual Report and Notice of AGM
15th Feb 2017 Interim Results for the six months ended 30 November 2016
22nd Dec 2016 Post-Close Trading Update and Notification of Interim Results


PRESENTATIONS/RESULTS

Feb 2018 Interim Results for the six months ended 30 November 2017
Sep 2017 Annual Report
Aug 2016 Preliminary Results for Year Ending 31 May 2016
Apr 2016 Strategic Repositioning Update - 27 April 2016
Feb 2016 Interim Results 6 months ended 30 Nov 2015
Aug 2015 Preliminary Results for Year Ending 31 May 2015
Feb 2015 Interim Results for the six months ended 30 November 2014



EVENTS
22 January 2019 General Meeting
30 January 2019 Announce Interim Results

CURRENT TRADING UPDATE

The Board is encouraged by progress in assimilating the CA Blackwell acquisition and is pleased to announce that the business has recently been confirmed as the preferred provider for two major sections of the Government's £1.5 billion A14 improvement scheme which is part of the UK's largest road improvement programme since the 1970's. These projects provide a strong underpinning to the Division's forward order book and are expected to commence before the end of this calendar year.

Trading in Transport and Logistics remains challenging but revenues are showing signs of recovery. A lease was secured in March on a new depot near Harlow which should assist this business unit to accelerate its growth in and around the London market.

Current trading remains in line within the Industrial Services Division. The previously announced closures of a number of UK coal fired power stations will have little impact on profit in the current year beyond the establishment of redundancy provisions as previously announced. The Group is actively seeking further opportunities to reduce costs and reposition the business in light of these closures and in light of the threat over the future of the Port Talbot steelworks. The Group expects to incur a further £0.5m of restructuring costs over the coming months, assuming Port Talbot continues to operate. The Group's potential redundancy liability at Port Talbot is approximately £1.0m.

The Board remains pleased and encouraged by the progress it is making with the development of the Group's property and energy projects portfolio.

Underlying trading results in the Coal Production and Distribution Division will be further impacted by continuing soft demand in domestic coal markets that will result in a further £0.5m shortfall in the current period. The share of loss for the current year of the Tower joint venture is now likely to be £1.0m higher than expected due to the combination of lower production and sales volumes. Efforts are underway to establish a curtailed mining strategy in light of the continuing risks associated with RWE's announced plans for Aberthaw power station. We continue to evaluate the need for any impairment relating to the Group's loans to the Tower joint venture.

Efforts are also underway to accelerate the rationalisation of Scottish operations to a single site focused on speciality coal production. The early curtailment of coal mining at other sites will result in House of Water becoming the Group's single remaining Scottish coal production site. This accelerated programme to cease coal production, combined with the decision to curtail a number of development options over further sites is likely to result in further estimated exceptional cost write-offs totalling between £3.0m and £3.6m over the next three months.

The Group will continue to seek all possible overhead reduction opportunities and expects to have largely completed its restructuring before the end of this financial year. The following year is expected to be a year of consolidation.

Gordon Banham, Group Chief Executive commented, "This announcement marks an important turning point for the Group. After eighteen months of market turmoil, we are finally completing a challenging phase of restructuring to move away from our traditional areas of focus and reposition the Group. The bulk of that restructuring work is complete and we can now look forward and actively pursue the value creation opportunities ahead of us. We have protected our strong balance sheet position throughout this difficult time. Today we find ourselves with a balance sheet with net assets of around £140m and we have set ourselves the objective of turning £66m of legacy assets on that balance sheet into free cash as quickly as possible in an orderly fashion. We are also setting ourselves the aspirational goal of developing and realising £50m of incremental value from our extensive property and energy project portfolio over the next five years to further grow our net asset base. Finally, we have identified a core of business operations that offer a long term value creation opportunity and we are focused on growing operating profits and delivering strong contributions from each of these areas. Whilst risks remain in achieving our targets, the Board is confident that the Group is well placed and well equipped to deal with these challenges."

A presentation is available on the website http://www.hsgplc.co.uk/media/68267/Strategic-Repositioning-Update-27-April-2016.pdf to provide further background and explanation on this statement.

http://www.moneyam.com/action/news/showArticle?id=5329319

North East major employer speeds up withdrawal from ailing coal sector
08:17, 27 Apr 2016
By Coreena Ford


Gordon Banham




One of the region’s largest companies is speeding up its withdrawal from the ailing thermal coal sector amid continuing weak prices.

County Durham -based Hargreaves Services employed more than 2,700 people last summer but set in motion a redundancy and cost-saving programme after what it described as the “most challenging” times seen in its sector.

The firm – the UK’s leading supplier of solid fuel and bulk material logistics – has issued a trading update to shareholders, detailing how it has spent the last two years working hard to position itself to face the growing challenges that have emerged in the coal and steel markets.

Despite trading pressures, the firm said it’s programme to reposition itself is seeing results.

The programme has included the far-reaching restructuring exercise, aimed at simplifying the Group through disposals and business closures to reduce debt levels, while also mitigating the risks and volatility presented by its coal, coke and steel-related activities.

The statement said: “Over the last year, the challenges facing the coal sector in the UK have increased due to continuing coal price weakness and low levels of coal demand arising from weak gas prices and an accelerated programme of UK coal generation plant closures.

“Given these continuing pressures the Board has elected to further accelerate its withdrawal from the thermal coal sector.”

Earlier this week RWE announced it is joining the coal retreat and intends to potentially cease taking delivery of Welsh coal at Aberthaw power station after March 2017, effectively downgrading the station so it will only generate electricity when it is needed in winter months.

The decision directly affects Hargreaves which supplies Aberthaw from its Tower colliery – and the firm has already said it is considering cutting back on production at the site.

The statement continued: “Our Interim Results Statement indicated that we were reviewing options to curtail coal production at Tower earlier than planned and that such a decision might result in a modest impairment to the value of loans the Group has extended to the joint venture.

“Although the RWE announcement means that curtailment of coal production may potentially be necessary even earlier than we had anticipated, we will continue to review plans and mitigation opportunities to minimise any necessary impairment of loans and continue to believe that any impairment will be modest.

“Recent pressures in the steel markets, including the closure of Redcar steelworks and the uncertainty over the future of Port Talbot have exacerbated the trading pressures in the UK.

“Although the coal and steel sectors remain highly challenging, the Group has made significant progress in transitioning the business away from thermal coal exposure in the UK. Most of the initiatives to deliver that strategy are underway and have been clearly highlighted in our recent shareholder communications.

The share price rose 3% to 161.06p in early trading after the trading update was released on the stock market.


Edit-Further reports on today's news:

The original link posted this morning regarding the presentation on their website didn't work, sorted now and will amend the earlier post:

http://www.hsgplc.co.uk/media/68267/Strategic-Repositioning-Update-27-April-2016.pdf

28 April 2016
HARGREAVES SERVICES PLC
("Hargreaves" or the "Company")

Director/PDMR Shareholdings

Hargreaves Services plc ("Hargreaves" or the "Company") has today received notification that Gordon Banham (CEO), David Morgan (Chairman), Peter Jones (Non-Executive Director), and Nigel Halkes (Non-Executive Director) have earlier today purchased in aggregate 250,000 ordinary shares of 10 pence each in the Company at a price of 170p per share.

The respective individual purchases and resultant beneficial holdings of Gordon Banham, David Morgan, Peter Jones and Nigel Halkes are set out below:

***See Link Below***

http://www.moneyam.com/action/news/showArticle?id=5331073

Directors buys always a good sign.

CC, Not always but along with the 'Strategic Repositioning and Trading Update' released yesterday then yes, leading to a possible good recovery stock?

Gordon Banham, Group Chief Executive commented, "This announcement marks an important turning point for the Group.

After eighteen months of market turmoil, we are finally completing a challenging phase of restructuring to move away from our traditional areas of focus and reposition the Group. The bulk of that restructuring work is complete and we can now look forward and actively pursue the value creation opportunities ahead of us.

We have protected our strong balance sheet position throughout this difficult time. Today we find ourselves with a balance sheet with net assets of around £140m and we have set ourselves the objective of turning £66m of legacy assets on that balance sheet into free cash as quickly as possible in an orderly fashion.

We are also setting ourselves the aspirational goal of developing and realising £50m of incremental value from our extensive property and energy project portfolio over the next five years to further grow our net asset base.

Finally, we have identified a core of business operations that offer a long term value creation opportunity and we are focused on growing operating profits and delivering strong contributions from each of these areas.

Whilst risks remain in achieving our targets, the Board is confident that the Group is well placed and well equipped to deal with these challenges."

http://ir1.euroinvestor.com/asp/ir/Hargreaves/NewsRead.aspx?storyid=13357385&ishtml=1

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

Artemis Investment Management LLP on behalf of discretionary funds under management:

Increased from 3,446,397 to 3,576,397 (11.21% indirect) on 16 June 2016

http://www.moneyam.com/action/news/showArticle?id=5362545

4 July 2016
Hargreaves Services plc
("Hargreaves", "the Group" or "the Company")

Post-Close Trading Update and Notification of Preliminary Results

Hargreaves Services plc (AIM: HSP), a leading supplier of solid fuels, bulk material logistics and specialist earthworks services, provides the following update on trading ahead of its preliminary results for the year ended 31 May 2016.

Core Operations

The Group is pleased to report that trading in the run up to the year end was in line with management expectations and consequently the Group expects underlying profitability for the year ended 31 May 2016 to be in line with current market expectations.

The restructuring and repositioning of the Group's core operations continues to progress and the resulting restructuring and exceptional costs are expected to be broadly in line with previous market guidance.

Tower Joint Venture

The Group notes that since reporting its interim results on 16 February 2016, RWE has confirmed its intention to cease buying Welsh coal for its Aberthaw power station by 31 March 2016. This decision firmed up our previously announced intention to consider a shortened mining programme at our Tower joint venture. Within our interim results we stated that a shortened mining plan could result in a modest impairment of our outstanding loans to the joint venture vehicle. It is our current view that, although the equity investment values and goodwill require to be impaired as no future dividends are likely to arise, a full recovery of the loans remains achievable. The Group will continue to work with its joint venture partners to seek an optimal outcome. The impairment charge in respect of our equity investment and goodwill will be approximately £4.9m.

Brexit

The Group continues to appraise the potential impacts of Brexit. The Group is a net beneficiary of Sterling weakness due to its current stocks of largely dollar-denominated coal and coke. No revaluation gains have been booked to date, but if the current exchange rate trends continue the Group should benefit as and when these stocks are realised.

On a negative note the Group has been informed that a £7m earthworks project at a major UK port has been postponed owing to Brexit-related concerns. The current uncertainty associated with Brexit presents potential risks for our Earthworks and Logistics businesses which have a significant exposure to construction activity and capital investment projects. However, it is difficult at this stage to form a clear picture of the medium term impacts and we currently consider the risk of a downturn in private sector activity as against the potential upside from Government-sponsored public sector works to reflate the economy to be relatively finely balanced.

Notification of Preliminary Results

The Group expects to report its preliminary results for the year ended 31 May 2016 on 9 August 2016. A briefing for analysts will be held at 10.00am on the morning of the results announcement at the offices of Buchanan, 107 Cheapside, London EC2V 6DN. For more information on the briefing, please contact Buchanan on 020 7466 5000.

http://www.moneyam.com/action/news/showArticle?id=5372455

Articles related to yesterday's trading update:

Owner of Scottish coal mines notes pros and cons of Brexit vote



HARGREAVES Services, which owns what is left of Scotland’s coal mining industry, has highlighted the benefit of the fall in the pound following the Brexit vote although this seems unlikely to stop the firm winding down most of its operations in the country.

The company has also noted the risks posed by the Brexit vote for its logistics operation, concluding that it will be some time before the overall effect on the economy of the UK voting to leave the European Union becomes clear.

In an update on recent trading, Durham-based Hargreaves said it would gain from the ten per cent plus fall in the value of the pound since the shock outcome of last week’s Brexit referendum because the coal and coke it supplies are traded in dollars.

This will mean the sterling value of sales has increased even if the price per unit sold has remained constant.

Other firms selling goods in dollars will benefit.

“The Group is a net beneficiary of Sterling weakness due to its current stocks of largely dollar-denominated coal and coke” said Hargreaves Services.

“If the current exchange rate trends continue the Group should benefit as and when these stocks are realised.”

The fall in the pound will provide some relief for Hargeaves following a period in which the price of coal has tumbled. The closure of power stations such as Longannet in Fife has weighed on demand.

In April the company said it expected to be producing coal from just one site in Scotland by the end of the summer. Six others are being wound down.

Finance director Iain Cockburn said it was not possible to produce power station coal at a profit and there was no market for it.

Yesterday the company said it expects to complete restructuring operations in line with that guidance.

It expects to recognise an impairment charge of £4.9 million in respect of the Tower joint venture in Wales after RWE confirmed it would stop buying Welsh coal for its Aberthaw plant.

Regarding the Brexit vote, the company added: “On a negative note the Group has been informed that a £7m earthworks project at a major UK port has been postponed owing to Brexit-related concerns,” without providing details.

Hargreaves said the uncertainty associated with Brexit presents potential risks for its Earthworks and Logistics businesses which have a significant exposure to construction activity and capital investment projects.

The group concluded: “It is difficult at this stage to form a clear picture of the medium term impacts and we currently consider the risk of a downturn in private sector activity as against the potential upside from Government-sponsored public sector works to reflate the economy to be relatively finely balanced.”

Hargreaves bought seven sites in Scotland from administrators of ATH and Scottish Coal in 2013.

Thermal coal prices have from around $180 a tonne in 2008 to about $50.

The House of Water site in Ayrshire will switch to producing specialist coal for the industrial and domestic market.

The other six sites range from Glenmuckloch in Dumfries and Galloway, where the firm is working on a restoration scheme with Buccleuch Estates, to Crossgates in Fife.



Also:

5 August 2016
Hargreaves Services plc
("Hargreaves", "the Group" or "the Company")

Appointment of Joint Corporate Broker

Hargreaves Services plc (AIM: HSP), a leading supplier of solid fuels, bulk material logistics and specialist earthworks services, is pleased to announce the appointment of Investec Bank plc as joint corporate broker to assist in the completion of the Company's repositioning following its successful restructuring programme.

http://www.moneyam.com/action/news/showArticle?id=5392967

9 August 2016
HARGREAVES SERVICES PLC
(the "Company" or the "Group" or "Hargreaves")

Preliminary results for the year ended 31 May 2016


Highlights



· The Group has delivered Continuing Underlying Operating Profit of £4.6m

· Trading since Interim results in line with management's expectations

· Coal production and trading successfully reduced and now focussing on speciality markets

· Decision taken to shorten mine life at the Tower project with mining due to finish March 2017; the Group expects full repayment of loans after write off of equity investment and other balances of £4.7m

· Charge of £12.4m for exceptional costs arising from re-structuring activities

· Successful acquisition of CA Blackwell in January 2016 broadens Group's Services operations and delivers significant heavy plant synergies

· Establishment of Property & Energy Division to drive £35-50m of value creation in next five to seven years

· Aggressive targets set for new business for Industrial Services operations in face of accelerated UK coal fired station closures

· Coal stocks built to £26.0m in face of negligible demand from UK coal stations, confident of sale of surplus stocks this financial year

· Balance sheet remains strong and well financed to allow orderly run-out of £60m of coal stocks and other legacy assets which include land, property, equipment, stocks and loans, into cash

· Final dividend of 2.3 pence in line with Group's 40% pay-out ratio target



Commenting on the results, Chairman David Morgan said:

"After two challenging years, we have a clear opportunity in front of us to develop and deliver significant shareholder value. The Group's core business operations have been enhanced following the acquisition of CA Blackwell. Our portfolio of property and energy projects offer an exciting platform for significant value creation that is incremental to that created from our Distribution & Services operations. We have targeted £35-50m of incremental value creation from development and energy projects related to these property assets. The £60m of legacy assets that we aim to convert to cash will strengthen a balance sheet that is already strong and allow consideration of a wide range of options to return value or capital to shareholders."

***See Link Below For Full Details***

http://www.moneyam.com/action/news/showArticle?id=5394612

Hargreaves Services has 'clear strategy' after tough year saw profit plummet 86%
15:30, 9 Aug 2016
By Robert Gibson

Solid fuel and bulk material logistics firm is diversifying, restructuring and reducing coal production to ensure long-term value for shareholders



Hargreaves Services PLC says it remains upbeat about its future, despite taking a major financial hit from a second year of “tumultuous” market conditions.

In the 12 months ended May 31, 2016 the County Durham-headquartered company, which is the UK’s leading supplier of solid fuel and bulk material logistics, saw continuing revenue drop to £340.7m, compared to £662.2m the previous year.

Continuing operating profit likewise plummeted by over 86% to £5.2m.

Central to the company’s woes has been a significant drop in the coal and coke trade, with production slipping from more than 7m tonnes to less than 2m within a matter of two years.

As a result, Hargreaves has been through a radical restructuring and repositioning programme that has included a “significant” number of redundancies.

With this now “fundamentally complete”, however, it says it is well placed to generate shareholder value through the development of profitable services leveraging its core skills.

A report accompanying the latest results said: “The management team have been proactive and have responded well to these challenges.

“Excellent progress has been made and a clear strategy has been set out to develop long-term value through a portfolio of complementary services business and through the development of value in a property and energy project portfolio that is rich with opportunity.

“Over the last two years, we have established a strong team with a focus on developing and delivering value from that portfolio.

“Looking forward, we will start to see that investment generating and demonstrating value.

“The acquisition of CA Blackwell Group Limited in January, 2016, was an exciting and positive step to building our long-term Services offering.”

During the year, restructuring activities, the accelerated closure of a number of significant customer sites and the decision to impair an equity investment in the Tower project incurred an exceptional cost of £12.4m.

Over the next five to seven years, however, the company is hopeful of generating between £35m and £50m of incremental value from its property and energy project portfolio, as it continues to reduce its focus on thermal coal.

The firm’s balance sheet likewise remains strong and well-financed, allowing the orderly run-out of £60m of coal stocks and other legacy assets including land, property, equipment, stocks and loans into cash.

In the face of accelerated UK coal fired station closures, meanwhile, Hargreaves has set “aggressive” new business targets for its Industrial Services operations.

Chairman David Morgan said: “After two challenging years, we have a clear opportunity in front of us to develop and deliver significant shareholder value.

“The group’s core business operations have been enhanced following the acquisition of CA Blackwell.

“Our portfolio of property and energy projects offer an exciting platform for significant value creation that is incremental to that created from our Distribution & Services operations.

“We have targeted £35-50m of incremental value creation from development and energy projects related to these property assets.

“The £60m of legacy assets that we aim to convert to cash will strengthen a balance sheet that is already strong and allow consideration of a wide range of options to return value or capital to shareholders.”

The board is proposing a final dividend of 0.6p.

If approved at the company’s AGM, this will result in a dividend for the full year of 2.3p, compared with 30p the previous year.

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

Artemis Investment Management LLP on behalf of discretionary funds under management

3,678,397 to 4,250,397 13.32%

http://www.moneyam.com/action/news/showArticle?id=5397265

Upcoming Events

13 September 2016 Annual Report Posting Date
22 September 2016 Ex-Dividend Date
23 September 2016 Record Date
05 October 2016 AGM
21 October 2016 Payment Date

Coal surge to stoke Hargreaves
09 September 2016, 16:19

Surging coal prices could help speed up coal trader and miner Hargreaves Services' (HSP:AIM) plans to unlock 300p a share in business value.

Struggling Hargreaves has been a casualty of falling energy prices over the last three years, as well as recent mild winters and coal power station closures as the UK’s energy policy attempts to shift away from fossil fuels.

European coking coal prices bottomed in February and have gained more than 50% since, with thermal coal price gains, used to fuel power stations, not far behind. Coal is being imported from China into Europe to try and stem the price gains, according to a Bloomberg report.

Hargreaves, which is winding down its coal trading, still boasts coke and coal inventories of around £20 million, versus a market capitalisation of £61 million. Firmer demand and prices may help the business unwind stock more quickly at better prices, according to a person with knowledge of the business.

However, the benefit is expected to be one-off because Hargreaves’ remaining mining assets will produce coal for specialist markets including domestic, industrial and steam trains, where prices are less sensitive to global pricing.

Most of its plan to deliver 300p a share in shareholder value involves reducing exposure to energy markets by developing transport, logistics and construction businesses alongside a scaled down coal distribution unit.

Shares in Hargreaves trade at 190p a share, a discount to tangible book value of 401p a share reported through 31 May 2016.

Book value may not be a reliable gauge of value at mining companies, however, as shareholders in UK Coal found out when it was wound up in 2013. Most assets were sold or transferred to the company’s pension scheme, though shareholders retained some of their investment via a shareholding in property vehicle Harworth (HWG).

Land previously used for coal mining, of which Hargreaves boasts around 18,500 acres and plans to develop, may also incur unexpected costs for environmental remedial work, further reducing value.

Chief executive Banham bought £348,000 shares in April at 170p a share, according to Shares' online Director Dealing tool.

Shares in Hargreaves Services are down 26% year-to-date at 190p.

The large seller who's being selling at 189-190 for the last 6 weeks or so may or may not have finished but at worst they are letting orders on the bid at 190 stay there for hours at a time rather than ripping them off in microseconds.

I will be interested to see if in due course the coal price has picked up enough to encourage HSP to consider mining some of the coal which it has viewed until now as economically nonviable.

In any event it will help the price mix as you can't just mine specialty grade coal without producing some lower grade stuff no matter which equipment or tech you use.

Annual Report 2016

For the year ending 31 May 2016

http://www.hsgplc.co.uk/media/69726/Hargreaves-Services-plc-Annual-Report-2016.pdf

23 September 2016 
Hargreaves Services plc
("the Company")
 
Posting of Annual Report and Notice of AGM
 
Hargreaves Services plc (AIM: HSP) announces that its Annual Report and Accounts for the year ended 31 May 2016 has been posted to shareholders and is available at the Company's website: www.hsgplc.co.uk.

The Company's Annual General Meeting will be held on 5 October 2016 at 11.00am at The Solarium, Durham Cathedral, The College, Durham DH1 3EH.

http://www.moneyam.com/action/news/showArticle?id=5419988


Annual Report and Accounts 2016

03 October 2016 
Hargreaves Services plc

Update on Redcar Steelworks Closure and Trading Update ahead of AGM
 
Hargreaves Services plc (AIM: HSP), a group delivering key projects and services in the infrastructure, energy and property sectors, today provides an update, ahead of its AGM on 5 October 2016, on the Redcar steelworks closure activity and on current trading.

Update on Redcar Steelworks Closure

The Group notes the recent press coverage concerning the Tribunal claim by staff who were formerly employed by Hargreaves at the Redcar steel plant. Management is disappointed by the findings of the Tribunal's oral judgment delivered on 30 September 2016, which could give rise to an additional potential liability of £0.6m relating to the closure in October 2015 of the Redcar operation.  We await the Tribunal's fully reasoned written judgment. The circumstances surrounding the demise of SSI, the owner and operator of Redcar steelworks, gave rise to a highly complex and fluid situation.  It was against this challenging background that Hargreaves sought to do its very best by its employees, acting in accordance with legal and professional advice. We expect any cost arising from the Tribunal's decision to be treated as an exceptional item in line with all other historic costs associated with the closure of the Redcar operation.

AGM Trading Update

At the AGM, to be held on Wednesday 5 October 2016, Hargreaves Chairman David Morgan will make the following statement: "We are pleased that the increasing interest from coal power stations noted in the Preliminary Results Statement has now been translated into contracts for the sale of the Group's surplus coal stocks. Shipments of these coal stocks, totalling approximately £11m, have already commenced and will continue through the winter in line with expectations and without any impairment to book value.

"Trading across the rest of the Group for the year to date has been in line with expectations. Although there are still risks associated with the achievement of new business targets in the Industrial Services division, encouraging progress in our Property and Energy portfolio allow management to remain confident at this time in achieving its overall performance target for the year which, together with the realisation of legacy coal stocks referred to above, provides a favourable background against which to finalise our deliberations on returning surplus capital to shareholders."

http://www.moneyam.com/action/news/showArticle?id=5425400

05 October 2016 
 
Hargreaves Services plc
 
Result of AGM  
 
Hargreaves Services plc (AIM: HSP), a group delivering key projects and services in the infrastructure, energy and property sectors, announces that, at its AGM held earlier today, all resolutions were duly passed.

http://www.moneyam.com/action/news/showArticle?id=5427756