Hargreaves Services Share Discussion Threads

[mexico man] 21/12/2024 05:39

Good read that if you Google national grid status then click on templar it gives you live information and wind farms produce most electricity specially today

[solarno lopez] 18/12/2024 18:15

That is an excellent read and supports my investment in HSP

[red ninja] 18/12/2024 17:26

Newly published progress in the renewables land (on website and linkedin) :-



Major new windfarm on course for 2025 launch


21 turbines have been installed at a 2,000-hectare windfarm which will soon deliver local and national benefits.

The new green energy generators are part of a major new development currently under way at North Kyle, near New Cumnock in East Ayrshire.

When fully operational in October 2025, the wind turbines will generate enough green energy to power the equivalent of 168,000 homes each year.

The wind farm is part of a development to regenerate one of Scotland’s largest surface coal mining sites, which formerly occupied the site. It is also estimated that the windfarm will generate £65 million in community benefit funds over the project’s lifetime.

Developed by Brockwell Energy, the North Kyle Windfarm project will ultimately see 49 Vestas V136 wind turbines constructed across land partly owned by Hargreaves Land on the site of the former House of Water opencast mine.

Andrew Johnson, regional director at Hargreaves Land said: “We are very pleased to see work progressing so well at the North Kyle Windfarm and look forward to its contribution towards the UK’s net zero ambitions, at the same time creating jobs and bringing investment to the local economy. Ambitious schemes such as this one offer a blueprint for bringing forward similar projects on reclaimed former open cast land and North Kyle promises to be truly game-changing for the local communities.”

Richard Buckland, senior project manager at Brockwell Energy said: “The team have done amazing work to progress North Kyle to this stage. A tight programme has been managed through challenging circumstances. We look forward to completion of the project in 2025 and realising the significant benefits, both local and national. We would also like to thank Hargreaves for their collaborative approach to development.”

[red ninja] 18/12/2024 17:14

Smithie

The land in Doncaster is held in the Unity JV as below :-

LIVING AND WORKING IN UNITY
Unity is a new award-winning development covering an area of 250 hectares (618 acres) in Doncaster, South Yorkshire.

Unity is one of the largest regeneration and infrastructure projects of its kind in the UK and is delivering a mixed-use development of regional importance.

Unity is a joint venture partnership between Waystone and Hargreaves Land.





>>>>>

Note, a fair number of lot sales have been done

[smithie6] 18/12/2024 15:29

mexicoman wrote
"this would be good news for the land at Doncaster"

How much land has HSP got at Doncaster & where is located wrt motorways, trainlines ??

[castleford tiger] 11/12/2024 16:01

back over 600p

[red ninja] 10/12/2024 15:43

HSP in Questor column in Daily Telegraph :-



This overlooked gem offers a fat yield while waiting for long-term growth
Questor believes this infrastructure company could reward patient support

Russ Mould
10 December 2024 5:00am GMT

A second, consecutive trading update from Hargreaves Services that provides little incremental good news might not sound like much but there is no bad news, either. And this column is more than happy to take that, given its recent travails with Zytronic, Resolute Mining, S&U and others.

Moreover, this column adheres to its view that financial markets are get-rich-slow mechanisms, when they work at their best. And Durham-headquartered Hargreaves Services still looks more than capable of helping here, given the long-term contract revenues, asset backing and dividend yield it provides.

Hargreaves Services derives the majority of its revenues from its infrastructure arm, where it provides mechanical and electrical services to major water and electricity utilities, as well as earthmoving and raw materials handling, in the UK, South East Asia and South Africa.

The company also has a 9,000-acre bank of brownfield land, which it regenerates and sells to developers for a range of uses, including warehouses, renewable energy projects and residential development. Finally, it owns 49.9pc of the equity in HRMS, a German raw materials and recycling operation where Hargreaves has the right to the vast majority of the profits.

Around 65 framework contracts, including those on the Lower Thames Crossing projects and Suffolk’s Sizewell C nuclear power plant, provide good visibility of earnings, even if the timing of land sales can be unpredictable and revenues lumpy, while a steady improvement in the housing market could boost the land business, too.

Hargreaves Services key facts
Market Value: £191m
Turnover (May 2025 est): £223m
Pre-tax profit (May 2025 est): £16.5m
Yield (May 2025 est): 6.2pc
Most recent year’s dividend (May 2024): 36.0p
Net debt (May 2024): £13m
Return on capital employed (May 2024): 8.3pc
Cash conversion ratio (May 2024): 171pc
P/e ratio (May 2025 est): 13.6x

The latest update suggests that Hargreaves Services will show an improved performance in the year to May 2025, as will HRMS, while Hargreaves Land will show a decrease relative to the record profit recorded in fiscal 2024. All of these trends support analysts’ forecasts of a modest increase in revenues and faster advances in both underlying pre-tax income and underlying earnings per share.

Those in turn, along with a balance sheet that carries very little by way of net debt, underpin analysts’ expectations of an unchanged dividend of 36p for the full year, enough for a dividend yield of 6.2pc. The 18p final distribution for fiscal 2024 has already been banked, to take our total return from the stock so far into the mid-teens in percentage terms.

That tidy yield means investors are being paid while they wait for Hargreaves Services to deliver on its long-term framework deal and its land portfolio. They should also get some downside protection from the lowly valuation afforded the stock. The fat yield is one facet of that, while another is the multiple of net asset, or book value, per share at which the shares trade, which is just one time.

The full-year accounts to May 2024 showed £192m of net assets on the balance sheet, of which £186m were tangible and that latter figure compares to a stock market valuation of £191m at the time of writing.

Questor says: hold
Ticker: HSP
Share price: 580p

[red ninja] 10/12/2024 15:28

Note, Blackwell Earthmoving (HSP subsidary)

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Sizewell C (linkedin feed)
43,299 followers43,299 followers
1d • 1 day ago

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🚧 Paving the way forward!

Exciting progress is happening at the Sizewell C site as the first tarmac is laid on the Main Access Road, and surfacing is now well underway. A shoutout to the team from Toppesfield, a local company based in Ipswich and Blackwell Earthmoving, for their hard work in getting this underway.

Special thanks to Simon Doherty (right), who is Blackwell Earthmoving Limited’s Civil Works Project Manager and Jack Gage (left), Surfacing Foreman from Toppesfield Limited, for helping to drive this phase of the project forward.

ConstructionProgress hashtag#ConstructionUpdates hashtag#SizewellC

[3800] 07/12/2024 19:50

thanks for posting that totally banjo, all we needed to know in a couple of minutes instead of a rambling hour long presentation.
3800

[mexico man] 07/12/2024 19:24

Hi everyone I've just read some news about Doncaster Airport set to reopen this would be good news for the land at Doncaster

[totally banjo] 05/12/2024 13:40

A brief interview:

Thu, 05 Dec 2024, 07:05am GMT
Gordon Banham presents a trading update for the company.



hxxps://x.com/hargreaves_plc

[totally banjo] 05/12/2024 13:19

Cavendish maintain their target price of 850p which is nice and something to aim for!

[davebowler] 05/12/2024 12:20

Singer target price £7.57

Strong H1 outturn expected; Guidance unchanged Hargreaves’ H1 update confirms a strong expected H1 outturn, with growth expected in both Services and HRMS and stability in Hargreaves Land. The Board remains confident of delivering full year results in line with expectations, supported by continued strong visibility in Services, improved performance at HRMS and a return to normal profit levels in Land. On 30th November, the Group held cash of £15.7m (Nov 2023: £18.7m), with no bank debt, reflecting investment into certain land assets ahead of anticipated realisations in H2. Against a confident outlook, we continue to see significant value in the shares. The investment case is clear - as Hargreaves transitions to a capital-light and profitable Services and Land Development business, we expect a number of value realisation events, with potential to return up to £150m of capital vs. a market cap of £194m. Investors are paid to wait for value to be realised, with a sustainable dividend yield of 6%+. The shares trade at a discount to NAV of 583p and significantly below our conservative sum of the parts valuation of 757p. Buy. Continued growth in Services, with strong pricing power protecting margins Services continues to see steady growth in revenue as the business unit focuses on growing its underlying contract base. Work continued on HS2 throughout H1 and the expectation is that the project will continue for at least a further two years. The Group has also expanded its preparatory earthworks activities at the Sizewell C Nuclear Power Station. The Services business remains resilient, with good visibility supported by a solid portfolio of term and framework contracts with blue-chip customers within the UK infrastructure and energy sectors. The recent UK Government Budget, in particular, the increase in Employers National Insurance Contributions, is not expected to have any significant impact on the business due to the nature of many of its service contracts, which often include escalation factors or “cost plus” arrangements. Hargreaves Land focused on value realisation from the renewable land assets Hargreaves Land remains focused on realising value from the first tranche of renewable energy land assets. The marketing of these assets is well underway and interest received to date has been encouraging. A further update will be provided in due course, as appropriate. Improved performance at HRMS HRMS has delivered an improved performance in H1 as commodity pricing has continued to normalise. As previously reported, HRMS has already paid the planned dividend to the Group for the current financial year.

[castleford tiger] 05/12/2024 10:09

no negatives there.

undervalued

[red ninja] 05/12/2024 09:06

Encouraging trading update for me as per excerpt :-

"The Board expects to report a strong set of results for the period with growth in both revenue and profit before tax. Improvement over the comparative period is anticipated to be reported within both Services and HRMS with Hargreaves Land remaining stable. The Board remains confident of delivering full year results in line with market expectations* supported by continued strong performance from Services, improved performance at HRMS and a return to normal profit levels in Land."

DYOR

[mexico man] 30/11/2024 22:07

They have invested on loads of new tipper trailers and new fleet of trucks

[red ninja] 30/11/2024 10:33

Hargreaves Services linkedin feed.
There are signs of life at Sizewell C for Hargreaves Services as below :-

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Stu CraggsStu Craggs
Talent Acquisition Manager at Hargreaves ServicesTalent Acquisition Manager at Hargreaves Services
1d • 1 day ago

Follow
Blackwell Earthmoving Limited is currently seeking an experienced Senior Works Manager to lead our project delivery team at Sizewell C.

To find out more and apply; hxxps://lnkd.in/esij9hdS

[red ninja] 19/11/2024 16:53

Hargreaves Services plc has announced plans for a leadership change within its growing land and property division.

David Anderson is set to retire from his role as group property director at Hargreaves Land in May 2025, with Bruce Lindsay stepping up to assume the role of land managing director.

In 2018 David Anderson joined Hargreaves Land to lead the firm’s delivery of development projects across the UK and unlock value from the group’s considerable land bank. He will remain involved in a small number of projects in a consultancy role.

During David Anderson’s tenure, Hargreaves Land has grown to a team of twenty-five staff with offices in Durham, Leeds and Glasgow. The firm delivers key projects in the infrastructure, energy and property sectors with a UK-wide land portfolio extending to over 9,000 acres, ranging from former coal mines undergoing remediation, through to prime consented sites ready for development.

Bruce Lindsay has spent four years with Hargreaves Land as development director based at the firm’s Glasgow office. During this time, he has taken a leading role in the ongoing development of Blindwells, the sustainable new town located twelve miles outside of Edinburgh. The scheme, which extends to 158-hectares (390-acres) is already home to over 300 new residents and has consent for 1,600 homes. Planning permission is currently being sought for an extensive range of retail and leisure facilities together with new business space.

Bruce Lindsay will assume the position of Land Managing Director from 1st June 2025. Commenting on his new role, he said: “I am immensely proud to have the opportunity to lead the business following David’s decision to step down. Over the past six years, David has made a significant impact on the growth of Hargreaves Land and his leadership, dedication, and expertise have been invaluable.

“We have a tremendously talented team working across our three offices and some incredible development opportunities in the pipeline. I am very excited at the prospect of leading the next phase of growth in the evolution of Hargreaves Land.”

In Yorkshire, Hargreaves Land is working in joint venture with Waystone to deliver Unity, an award-winning mixed-use development covering an area of 250-hectares (618-acres) at junction 5 of the M18 near Doncaster. One of the largest regeneration and infrastructure projects of its kind in the UK, retailer TJ Morris has plans to build an 800,000 sq ft regional distribution centre and training facility within the scheme.

Gordon Banham, chief executive of Hargreaves Services plc, said: “David Anderson’s vision and strategic insight will leave a lasting impact on the company. We are immensely grateful for David’s hard work and commitment and wish him a very happy and well-deserved retirement.

“As we look to the future, I am delighted that Bruce will be taking up the role of land managing director. He has established himself as a very highly regarded and valued member of our senior team with vast experience and expertise in the sector.”

[gargoyle2] 14/11/2024 22:24

First tranche of renewable assets were put on the market over the summer. I wonder if recent strength suggests the first deal is near?

[mexico man] 14/11/2024 21:02

Trying it's best to get over £6.00 don't think it will be long

[red ninja] 14/11/2024 17:14

Hargreaves Industrial Services (linkedin feed)
2,712 followers2,712 followers
1d • 1 day ago

This week, Esholt Sewage Treatment Works took delivery of 2 more JCB Tele-Handlers for use at our recently awarded sludge handling contract with Yorkshire Water. This represents a positive milestone, demonstrating our commitment by investing in robust equipment to help us deliver a streamlined service to our customer.

Amy Westoby, Contract Manager at Yorkshire Water, said, "I am pleased to be working with Hargreaves Industrial Services, who have already demonstrated dispatch loading rates in excess of 150% above plan during a difficult mobilisation period, and I am looking forward to seeing what we can achieve together."

Over the forthcoming weeks, we will receive a further 4 of these machines to ensure each site we operate is given the best-in-class equipment. Thank you Oli Brown at TC Harrison JCB for a smooth buying process 🚜

[totally banjo] 11/11/2024 17:03

From this morning:

11 November 2024

Hargreaves Services plc

("Hargreaves" or the "Company")


Director/PDMR Dealing


Hargreaves Services plc (AIM: HSP), a diversified group delivering services to the industrial and property sectors, announces that, on 8 November 2024, David Anderson, Group Property Director and PMDR, sold 2,789 ordinary shares in the capital of the Company ("Ordinary Shares") at 564 pence each. The shares were immediately repurchased by him into an ISA at 563.87 pence each.

Following this transaction, David Anderson's aggregate beneficial holding is unchanged at 113,653 Ordinary Shares, representing 0.35% of the total issued share capital of the Company.

[totally banjo] 31/10/2024 12:07

From yesterday:

A brief presentation delivered at the AGM by CEO Gordon Banham, will be available on the Company's website: hxxps://www.hsgplc.co.uk/investors/news-reports-and-presentations/. No new material information was disclosed.

Also updated on their 'X' (twitter) feed:

hxxps://x.com/hargreaves_plc

[totally banjo] 30/10/2024 12:13

NewsIN BRIEF:

Hargreaves Services property director exits; trading in line

Alliance News30 October, 2024 | 10:25AM

Hargreaves Services PLC - Durham, England-based service provider to the environmental, industrial and property sectors - David Anderson will step down as property director on May 31 next year, but he still will consultant on some projects. The firm tells its annual general meeting on Wednesday that its Services, Hargreaves Land and HRMS units are performing in line with expectations during the first four months of the financial year, and it expects to release half-year results on January 29.

hxxps://www.morningstar.co.uk/uk/news/AN_1730283932705864900/in-brief-hargreaves-services-property-director-exits%3B-trading-in-line.aspx