Hargreaves Services Share Discussion Threads

[smithie6] 09/6/2022 15:26

Can someone spit out the expected PBT & PAT ?

& not impressed that the RNS does not give such basic fundamental info.

Is this +£3.5million wrt to what previous value ?
Is it +£3.5 million on top of the +£5 million reported on 3rd May ??

+ £3.5 million or + £5.5 million ??

Uhhhhh ???

for me personally I think it is bad reporting, but clearly the UK stk mkt rules allow such ambiguous RNSs. :-(

'Let's confuse investors & shareholders as much as we possibly can' !!

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In the month of May the co. made £3.5 million more profit than was already expected !!

+£42 million per year !!

Hmmmm

I assume it was just/mostly due to some payments/contracts/product deliveries meeting accounting criteria & qualifying to be included in the accounts to 31st May '22.

Hmmmm.

Interesting times.
2 big 'beat expectations' RNSs just 1 month apart.
:-)

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That the pig iron & lead prices were up quite a lot & would bump up profits, I remember posting ad infinitum about that months ago. Been a long wait for it to appear in RNSs.
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As Tiger mentions, still looks notably underpriced for the profit numbers.

If the PAT equates to Tiger's number of 92p EPS then that would be great & the shares at ~600p look too cheap. :-)

(92p EPS & 32 million shares (ref advfn) equates to a PAT of £29 million !! :-))). )

[smithie6] 09/6/2022 15:20

That was a shrewd move.
I would have as well but had no spare cash.

[castleford tiger] 09/6/2022 15:00

Eps around 92/93p for the year.
Whilst it will fall in 22/23 it should beat forecasts.
Still looks too cheap to me.
A holder and I bought the last dip as it was silly
Tiger

[harrogate] 09/6/2022 07:09

Well another beat in 2022! They are really motoring here and it will be interesting to see if the brokers upgrade 2023 on the back of this. That £15m loan to JV would appear Cato be surplus to requirements once the market in German JV calms down and might be heading our way via buyback, increased dividends, special etc. not one to sell yet

[harrogate] 09/6/2022 06:46

No apologies needed. I was hoping you were right. That net cash / debt figure at year end this time can swing around a lot as it is dependent on delivery dates for oodles of kit for the HS2 work that they are leasing.

[gargoyle2] 08/6/2022 22:07

The CMD presentation has a forecast 'Net Debt' figure shown as (10.9m), i.e. in brackets, which I assumed meant net cash -- given that they didn't put brackets around the Net Debt figure in the interim results in January. However, looking back at the broker notes, it looks like that should be net debt and not net cash. Apologies.

[harrogate] 08/6/2022 19:03

Not sure where you get that net cash figure from ?

[gargoyle2] 08/6/2022 18:49

In advance of tomorrow's update, according to the presentation at the recent Capital Markets Day, consensus forecasts for the year just ended are:

Revenue £ 167.3m
Profit pre-tax £29.3m
Profit after tax £27.7m
EPS 85.9p
Dividend 20.4p
Net cash £10.9m

[gargoyle2] 08/6/2022 18:41

hxxps://www.stockopedia.com/articles/hargreaves-services-passes-this-3-point-stock-market-strategy-269440/

[harrogate] 08/6/2022 17:43

Preclose trading statement tomorrow

[gargoyle2] 29/5/2022 17:31

Hargreaves Services on the up: www.business-live.co.uk/enterprise/hargreaves-services-on-up-after-24082351

[tole] 16/5/2022 17:44

https://masterinvestor.co.uk/equities/small-cap-catch-up-kape-itim-and-hsp/Hargreaves Services (LON:HSP) – pig iron and zinc prices are helping the joint ventureLast Wednesday's Capital Markets Day for this industrial and property sector services group went down well, I understand.No fresh trading news was given to attendees, who were instead informed about the group's German joint venture, Hargreaves Raw Material Services, as well as opportunities for the group's land portfolio.Analysts James Tetley at Singer Capital Markets currently has a 'sum of the parts' valuation of 710p for the group's shares, compared to the Friday night closing price of 567p.Tetley is estimating that the year to the end of this month will see revenues fall back from £204.8m to £166.0m, while actually producing a very much better £29.4m adjusted pre-tax profit (£21.2m), with earnings of 86.5p (70.1p) easily covering a 20.4p (19.2p) dividend per share.The broker, in rating the group's shares as a 'buy', looks for £200m sales in the end May 2023 year, profits of £25.3m, earnings of 71.7p and a 21p dividend per share.I look forward to the year end Trading Update in very early June.In the meantime, I see the shares continuing to edge higher.

[gargoyle2] 12/5/2022 11:31

I agree. The management was also clearly guiding analysts to look deeper into the hidden value in the renewable energy land portfolio too. Happy to keep holding for further upgrades/results.

[harrogate] 12/5/2022 08:41

If you didn't catch the CMD yesterday the slides are now on the website and the recording will be soon. I thought it was very useful especially on Germany and they looked like a management team with lots of things to do in the next couple of years and on a real roll. I bought more yesterday and do think that if markets settle they will head higher. Probably need a further upgrade to 23 which almost looks nailed on to me

[castleford tiger] 10/5/2022 18:24

520 paid late on.
happy with that.
tiger

[castleford tiger] 09/5/2022 18:32

Had a few late today

[davebowler] 06/5/2022 11:55

Simon Thompson mentions in this weeks IC -
Singer has pushed through 6 per cent pre-tax profit and EPS upgrades to £25.3mn and 71.7p, respectively, for the 12 months to 31 May 2023. They have also raised their sum-of-the-parts target price to 710p (from 690p).

[gargoyle2] 04/5/2022 18:00

Any new notes out since the update?

[andy2205] 03/5/2022 07:23

V nice trading update....."further improvements to itsexpected trading results due to the continuing strong performance of itsGerman Joint Venture, Hargreaves Raw Materials Services GmbH ("HRMS")".

[harrogate] 26/4/2022 13:26

Why not read the RNS ?

[smithie6] 26/4/2022 13:24

When is the Capital Markets Day....getting close I assume ?