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

16 January 2015

Hargreaves Services plc

Transaction in Own Shares

Hargreaves Services plc announces that on 15 January 2015, in accordance with prior approvals from shareholders, it purchased through N+1 Singer Capital Markets Limited 50,000 ordinary shares at an average price of 600 pence per share. The purchased shares will be held as treasury shares. Following the above purchase, Hargreaves Services plc holds 833,072 ordinary shares in treasury, and has 32,305,684 ordinary shares in issue (excluding treasury shares).

Therefore the figure of 32,305,684 may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules.

http://www.moneyam.com/action/news/showArticle?id=4959769

The linked document is dated 17th December 2014:

Hargreaves Mining India


Hargreaves Mining India Pvt Ltd is a new venture created to support the growth of coal mining in India and contribute to its further success in underground and surface operations.



This new business is underpinned by a merger of resources between Hargreaves Technical Resources (HTR) and Rufford Coal Mining Services Pvt Ltd, an Indian-registered company; it will successfully combine the best of British mining expertise with the experience of a team of Indian mining specialists.

From the outset, our objective is to provide project management, consultancy services and mining contracting to public and private sector organisations in the coal mining industry, based on proven Hargreaves capabilities:
Quality – of people and resources
World-class health and safety management
Global partnerships and supply chains
Successful development and operation of UK mining assets
Extensive experience in mass production technologies
Expertise in mining, product processing and product marketing


More about Hargreaves Mining India:




http://www.hsgplc.co.uk/media/53749/Hargreaves-India-Brochure-Dec-14.pdf

20 January 2015

Hargreaves Services plc

Transaction in Own Shares

Hargreaves Services plc announces that on 19 January 2015, in accordance with prior approvals from shareholders, it purchased through N+1 Singer Capital Markets Limited 50,000 ordinary shares at an average price of 587.8 pence per share. The purchased shares will be held as treasury shares. Following the above purchase, Hargreaves Services plc holds 883,072 ordinary shares in treasury, and has 32,255,684 ordinary shares in issue (excluding treasury shares).

Therefore the figure of 32,255,684 may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules.

http://www.moneyam.com/action/news/showArticle?id=4961296

General company information:

Hargreaves South Africa

Hargreaves South Africa Pty Ltd has been established to introduce our company’s proven and successful Industrial Services business model into the South African market, identified as an important component in the Hargreaves international development vision

Hargreaves South Africa’s immediate focus is to provide a comprehensive range of on-site materials handling services, internal transport and associated works at Cape Gate Pty Ltd, a major steel production company located close to Johannesburg. Hargreaves has acquired the business and assets of Algol Steel Services and has transferred around 60 ex-Algol employees into the Hargreaves group of companies.

Our South African business provides the same high levels of professional and partnership working with clients that we successfully employ in our UK operations, where Hargreaves has a similar presence at every major steel production site.

In parallel with our UK operations, Hargreaves South Africa adheres to world-class health and safety and environmental management standards and promotes quality – of people and resources – as a pre-requisite for all business undertakings and relationships.

Our intention is to develop our South African business further through a combination of organic growth and possible further strategic acquisitions.

Services currently provided:

Under furnace digging & slag cooling
Metal recovery
Scrap sizing
Scrap skip collection
Raw material handling
Ladle refectory linings wrecking
Wire baling
Internal transportation

29 January 2015

Hargreaves Services plc

Transaction in Own Shares

Hargreaves Services plc announces that on 28 January 2015, in accordance with prior approvals from shareholders, it purchased through N+1 Singer Capital Markets Limited 30,000 ordinary shares at an average price of 590 pence per share. The purchased shares will be held as treasury shares. Following the above purchase, Hargreaves Services plc holds 913,072 ordinary shares in treasury, and has 32,225,684 ordinary shares in issue (excluding treasury shares).

Therefore the figure of 32,225,684 may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules.

http://ir1.euroinvestor.com/asp/ir/Hargreaves/NewsRead.aspx?storyid=13097130&ishtml=1

03 February 2015

Hargreaves Services plc

Transaction in Own Shares

Hargreaves Services plc announces that on 2 February 2015, in accordance with prior approvals from shareholders, it purchased through N+1 Singer Capital Markets Limited 50,000 ordinary shares at an average price of 572 pence per share. The purchased shares will be held as treasury shares. Following the above purchase, Hargreaves Services plc holds 1,013,072 ordinary shares in treasury, and has 32,125,684 ordinary shares in issue (excluding treasury shares).

Therefore the figure of 32,125,684 may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules.

http://www.moneyam.com/action/news/showArticle?id=4970245

And from yesterday:

02 February 2015

Hargreaves Services plc

Transaction in Own Shares

Hargreaves Services plc announces that on 30 January 2015, in accordance with prior approvals from shareholders, it purchased through N+1 Singer Capital Markets Limited 50,000 ordinary shares at an average price of 580 pence per share. The purchased shares will be held as treasury shares. Following the above purchase, Hargreaves Services plc holds 963,072 ordinary shares in treasury, and has 32,175,684 ordinary shares in issue (excluding treasury shares).

Therefore the figure of 32,175,684 may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company, under the Disclosure and Transparency Rules.

http://www.moneyam.com/action/news/showArticle?id=4968994

Hargreaves Services PLC
05 February 2015

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

Schroder & Co. Ltd From 10% - 11%

full details from link below:

http://www.moneyam.com/action/news/showArticle?id=4972159

17 February 2015

HARGREAVES SERVICES PLC

Interim Results for the six months ended 30 November 2014

HIGHLIGHTS



· The Group has delivered a resilient performance in difficult markets:

o Continuing operating profit of £21.5m

o Strong cash generation leading to a £28.4m reduction in Net Debt in the six month period

· Aside from the financial impact of the termination of our coal marketing agreement at Hatfield, current financial performance in all our operations remains broadly in line with expectations with contracts and hedges providing protection against low coal prices and low UK coal demand through to the end of April 2015

· Group simplification and the debt reduction initiative are progressing well, including disposal of Imperial Tankers operation and the closure of Monckton coke operation

· The Group is expecting to see reductions in short term coal production and import volume targets and is therefore seeking to further reduce fixed costs

· Interim dividend increased to 10.0p per share from 8.8p per share reflecting the Board's confidence in continuing overall profit and cash generation even through this difficult period

· Group well placed with a strengthened balance sheet to weather the current difficult trading conditions


Commenting on the interim results, Chairman Tim Ross said:"The market conditions we are currently experiencing are unprecedented and very challenging. The Group simplification programme and focus on reducing debt ensures that the Group is well placed to weather the current difficult trading conditions for such time as they persist. Although there are challenging times to face in the coming financial year the Group is expected to continue to be profitable and to generate meaningful surplus cash. Reflecting the Group's inherent strength and solid financial position, the Board has the confidence to increase the interim dividend in line with prior guidance. Although we are unable to control factors such as coal price and coal demand, the management team is proactively taking all the sensible steps and measures to manage current market conditions whilst leaving the Group well placed to benefit when the market improves."


CURRENT TRADING AND OUTLOOK

Aside from the financial impact of the termination of our coal marketing agreement at Hatfield, current trading in all our operations is broadly in line with management expectations with coal contracts and hedges providing reasonable visibility of Bulk Coal volumes through to the end of April 2015. However, as outlined above, following the significant recent weakness in energy commodity prices and a second consecutive mild winter, visibility of thermal coal demand beyond that point is very poor. In speciality coals, volumes have held up reasonably well although we are seeing some margin pressure particularly in the domestic heating sector as other suppliers have reduced prices. Our long term outlook for these markets remains positive and is identified as an area of opportunity in which to grow our market share.

If coal prices remain depressed and power station demand turns out to be as low as currently indicated, trading from May 2015 to the end of the calendar year could be the most challenging period the Group has experienced and we would expect this to impact our outlook for the year ending 31 May 2016. In particular, the impact of coal prices on our surface mining operations in Scotland and at Tower, combined with the reduction in demand for thermal coal, are expected to result in a significant reduction in management's expectations for the year ending 31 May 2016 despite the further steps that we are taking.

However, the Group is well placed to weather this period of extreme volatility and is expecting to continue to generate cash throughout, albeit at reduced rates of profitability. Our balance sheet is strong and our assets are flexible and agile ensuring that the Group will be able to respond quickly when market conditions improve. As the only likely remaining major national producer of indigenous coal we remain optimistic about the prospects offered by the UK once market conditions normalise and prices recover.

We will continue to review and challenge our chosen strategy and over the coming months our efforts will be focussed on fixed cost reduction and cash generation, which continues to track in line with expectations.

For announcement in full see link below:

http://www.moneyam.com/action/news/showArticle?id=4978737

"Unprecedented" energy market causes £110m fall in revenues
17th February 2015
By Alex Turner - Editor

MINING group Hargreaves Services has blamed "unprecedented" market conditions as revenues and profits tumbled.

Its half-year figures show revenues dropped by nearly one-quarter, to £351.2m, with continuing pre-tax profits down by nearly half, to £15.2m.

Despite that, the AIM-listed group has increased its interim dividend by 14%, to 10p.

Its share price remains low, closing last night at 567p, having dropped from 800p in late August to 522p six weeks later. A year ago its shares were worth around 900p.

In December it ceased production at its site in Monckton, near Barnsley, which employed 120 people. The group said the closure will result in a £16.6m charge to the income statement, but it would "liberate the significant working capital that was tied up" and expects to generate net cash inflows of £17m.

Hargreaves Services chairman Tim Ross said: "The market conditions we are currently experiencing are unprecedented and very challenging. The group simplification programme and focus on reducing debt ensures that the group is well placed to weather the current difficult trading conditions for such time as they persist.

"Although we are unable to control factors such as coal price and coal demand, the management team is proactively taking all the sensible steps and measures to manage current market conditions whilst leaving the group well placed to benefit when the market improves."

Almost all of the drop in revenue for the group came from its energy and commodities division, resulting from "ongoing uncertainty and volatility within coal markets" which has reduced bulk volumes and seen margins come under pressure because of weak domestic demand.

However the company was able to reduce its net debt by £28.4m, to £40.4m, and continues to generate cash.

Mr Ross added: "Although there are challenging times to face in the coming financial year the group is expected to continue to be profitable and to generate meaningful surplus cash.

"Reflecting the group's inherent strength and solid financial position, the board has the confidence to increase the interim dividend in line with prior guidance."

Schroders plc Above 11%, 12%, 13%, 14% on 19.02.15

3,542,787 to 4,573,892 =14.255%



TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi

Octopus Investments Nominees Limited from 1081044 (+3%) to 0 (0%) on 19/02/2015

http://www.moneyam.com/action/news/showArticle?id=4982509

A reminder.......

Hargreaves Services-Ex-Dividend-Thursday, February 26

http://www.hsgplc.co.uk/investors.aspx

Call for coal industry tax break as 80 jobs at risk
by TOM PETERKIN
Thursday 12 March 2015


THE UK’s largest coal company has made an impassioned plea for a tax break to help the industry as it announced that around 80 Scottish mining jobs are at risk from the falling coal price.

Hargreaves Services informed employees of the risk of job losses as it called on the UK Government to extend an exemption from the Carbon Price Support levy to opencast mines on brownfield sites.

Currently the exemption only applies to the mining of coal slurry and was introduced to encourage the industry to keep extracting the mineral while cleaning up the environment. Hargreaves believes that the extending the exemption to opencast sites would minimise job losses as well as make it economically viable for the company to restore the 35 square kilometres of opencast sites that scar the landscape across East Ayrshire, South Lanarkshire and Fife.



The plea is being made ahead of George Osborne’s budget next week. Carbon Price Support is a duty imposed on coal used for electricity production. It currently stands at £21 per tonne of coal.


Hargreaves argues that an exemption would make a significant difference when it is considered that the price of coal has fallen to £40 per tonne.

The company believes that an exemption would provide an elegant solution to the challenges facing the company, because it would make it economical to employ its workers to restore the landscape ruined by past opencast developments as well as extract coal from brown field sites.

According to Hargreaves, 1,000 Scottish mining jobs would be protected by the move. The £200 million cost of the exemption would be more than made up for by the £250 million boost to the economy that would result from safe-guarding jobs over the next five years.

Iain Cockburn, Group Finance Director of Hargreaves Services said: “We have worked hard to establish a mining operation in Scotland and it is very regrettable that we are faced with the prospect of having to reduce the size of the skilled workforce that has been built up in the last 18 months. We recognise it is a stressful time for the workforce and their families and we can only assure them that we are working as hard as possible to secure the CPS Exemption to protect their job prospects for the next five years as the industry sets about restoring the abandoned sites.”

Last night the Treasury declined to comment ahead of the budget. But a Scottish Government spokesman said the UK Government should give “urgent consideration” to Hargreaves’ proposal saying it could save or create jobs.

EVENTS

31 May 2015 Next year end (to be reported)
27 March 2015 Payment date

Hargreaves Services: A Value Investor In Disguise
Apr. 21, 2015

http://seekingalpha.com/article/3084586-hargreaves-services-a-value-investor-in-disguise

The India Times article and news of increased coal production may be good for HSP:


Hargreaves Mining India


Hargreaves Mining India Pvt Ltd is a new venture created to support the growth of coal mining in India and contribute to its further success in underground and surface operations.

http://www.hsgplc.co.uk/divisions/industrial-services/hargreaves-mining-india.aspx


Coal production surges 11% in first 45 days of 2015-16 amid core sector misery
By Vikas Dhoot, ET Bureau | 20 May, 2015


NEW DELHI: India's coal production has surged by 11% in the first 45 days of 2015-16, assuming greater significance as it comes on the back of the highest increase in output in 40 years recorded last fiscal. Core sector growth dipped to a 17-month low of -0.1% in March, but coal output rose by 6% that month.

"From a scenario last year when outages were common and power plants were suffering for want of coal, all power plants in the country today have an average 20 days of coal inventory.

Coal supply is no longer a problem," a top government official told ET, adding that several new mines are coming on stream as even Oppositionruled states like West Bengal are now backing coal projects. In 2014-15, Coal India produced 493 million tonnes of coal.

"This marked a 32 million tonne surge in output which is more than the cumulative increase recorded in the previous four years (31 million tonnes) and the highest since 1975," the official said, adding that output has increased by 11% between April 1 and May 15 this year.

More from link below:

http://economictimes.indiatimes.com/industry/indl-goods/svs/metals-mining/coal-production-surges-11-in-first-45-days-of-2015-16-amid-core-sector-misery/articleshow/47349703.cms


Edit-Also of interest:

India’s Coal Industry: The Single Biggest Source of Energy

A total of 1,199 new coal-based thermal power plants with a total installed capacity of more than 1.4 million MW proposed worldwide, the lion’s share—455 plants—are in India, according to data from the World Resources Institute.

India is overwhelmingly dependent on fossil fuels—coal, oil and gas—which meet more than three fourths of the country’s energy needs, despite Modi’s plans to promotealternative energy sources.

Of the fossil fuels, oil and gas account for just about 30% of India’s energy needs, the bulk imported (80% in the case of crude oil). India has abundant reserves of coal, the fourth-largest in the world.

http://www.globalresearch.ca/indias-coal-industry-the-single-biggest-source-of-energy/5449946

I bought some of these today. Bit too early it seems as I bought in a range of 396 to 410


Dividend yield of 5.84% so based on today looks like I'll be sitting in them for a while.

I have thoroughly researched this company and believe it is mis-understood by the market and not as dependent on coal prices as is first apparent.

Doesn't mean it won't go lower before it goes higher !

General company information-Along with Hargreaves Mining India and Hargreaves South Africa highlighted earlier there is also a Asia-Pacific presence:

Hargreaves Hong Kong

As part of the Company’s strategy to export its proven UK Industrial Services business model into worldwide markets, Hargreaves has recently marked its fourth year of operations in the Asia-Pacific region.

In 2010, Hargreaves’ senior business team identified the Asia-Pacific economic region – particularly China and Hong Kong- as an important target for the delivery of the company’s international development plans.

Early in the process, a relationship was established between Hargreaves and China Light & Power (CLP), the largest electricity-generating company in Hong Kong.

Hargreaves successfully tendered to provide technical consultation services during planned flue gas desulphurisation (FGD) outages at the 4,180 Mw-capacity Castle Peak power station in 2011. The project was delivered on budget, ahead of schedule, and without a single health & safety incident.

With capabilities now properly demonstrated, Hargreaves subsequently won a 5-year contract to service Castle Peak’s coal plant and FGD integrated maintenance requirements, and this work began on January 1, 2014.

To deliver this contract, Hargreaves is using a highly-experienced Hong Kong-based project management team and a skilled workforce of engineers, fitters and maintenance personnel, recruited locally and trained to the same exacting standards expected of our UK workforce.

Having successfully established a presence in Hong Kong, the Hargreaves international business team is now pursuing further business opportunities in other markets across the wider Asia-Pacific economic zone.


Services available to clients include:

Precipitator overhaul & maintenance-Milling plant operations and maintenance-
Balance of plant, PF & burners maintenance & overhaul-Dampers & ducts maintenance & overhaul-Coal handling plant operations & maintenance-Full EPC management- Mechanical & electrical engineering-Structural steelwork erection-FGD operations & maintenance-Power plant outage technical support-Major overhaul & refurbishment-Conveyor installation, operation & maintenance.

Schroders averaging down by the look....

They passed 10% October last year then reached 14.255% during February and now 16.582%

http://www.moneyam.com/action/news/showArticle?id=5050688