Hargreaves Services PLC Pre-Close Trading Update and Results Notification (7157Q)

TIDMHSP

RNS Number : 7157Q

Hargreaves Services PLC

08 June 2018

8 June 2018

Hargreaves Services plc

(the "Company" or the "Group")

Pre-Close Trading Update and Notification of Interim Results

Hargreaves Services plc (AIM: HSP), a diversified group delivering services to the industrial, energy and property sectors, provides the following update on trading ahead of reporting its preliminary results for the year ended 31 May 2018.

Trading has been satisfactory, and the Board expects to report results in line with its expectations. Net debt is likely to be cGBP30m, which is higher than expected solely due to the delay in the sale of a legacy land asset. Contracts for sale have now been exchanged.

Following a thorough process managed by third party advisors, the Board has now entered into exclusive negotiations with one party to acquire Brockwell Energy Limited. Completion of the disposal is expected to occur within the next few months.

The Group expects to report its preliminary results for the year ended 31 May 2018 on Wednesday 1 August 2018. A briefing for analysts will be held at 10.00am on the morning of the results at the offices of Buchanan, 107 Cheapside, London EC2V 6DN. For more information on the briefing, please contact Buchanan on 020 7466 5000.

For further details:

 
 Hargreaves Services plc 
  Gordon Banham, Chief Executive 
  Officer 
  John Samuel, Group Finance Director     0191 373 4485 
 Buchanan (Financial PR) 
  Mark Court/Sophie Wills/Henry 
  Wilson                                  0207 466 5000 
 N+1 Singer (Nomad and Joint Corporate 
  Broker) 
  Sandy Fraser/Rachel Hayes               0207 496 3000 
 Investec (Joint Corporate Broker) 
  Sara Hale/Helene Comitis                0207 597 4000 
 

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June 08, 2018 02:00 ET (06:00 GMT)