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Superb trading update, �4.00 by February update :)
Nope just a good trading update by the looks of it
horizon ??
Misread the dates... still huge buying in the last few days
£1.7m bought £0 sold and its down. I'd love to know how that's possible!
Are you on correct site Mr Bond? Directors here are fully committed-one bought 28,000 shares yesterday and CEO has huge holding.
Shame on directors selling all their freebies immediately - Certainly doesn�t inspire any confidence at all in me. Anyone think of anything encouraging to say? Looks like someone has decided it�s not worth hanging around with that sort of behaviour.
There was a tangable mood of optimism at this year's AGM where the previous hope of realisation of developing the huge landbank was shown to be coming to be a reality. The CEO's presentation pointed to an asset value potentially well ahead of current share price.The German unit which trades coal and other commodities is thriving and the disposal of underground mining assets has benefitted from currency movements , as most is sold for dollars. Having come through increably challenging times with a strong balance sheet things are heading in the right direction.
8 September 2017 Hargreaves Services plc ("Hargreaves", the "Company" or the "Group") Posting of Annual Report and Notice of AGM Hargreaves Services plc (AIM: HSP), a diversified group delivering key projects and services to the infrastructure, energy and property sectors, announces that its Annual Report and Accounts for the year ended 31 May 2017 is today being posted to shareholders and will be made available at the Company's website: www.hsgplc.co.uk The Company's Annual General Meeting will be held on 3 October 2017 at 11.00am at Prior's Hall, Durham Cathedral, Durham DH1 3EH.
For what it's worth minimum broker target 465p
Good results, outlook good, the board seem very professional (as they should be) I am too continuing to hold, my target being a fair bit higher than where we are now.
I have also stuck with this board and that resolution is beginning to achieve results. With a conservative NAV well in excess of the share price I shall continue to hold for the ride. A little bit of tidying up core businesses is underway and provided profitable streams can be maintained I look forward to growth and the odd special divi!
I've stuck with the stock through thick and thin and it looks like my faith in the management is being finally rewarded. Let's see whether the market starts putting a premium on the company NAV since the quality of the guys at the top are way ahead of many of those running the show ponies in the FTSE100
***More via Link Below*** http://www.lse.co.uk/share-regulatory-news.asp?shareprice=HSP&ArticleCode=boszqxif&ArticleHeadline=Preliminary_Results
Highlights Excellent progress toward stated strategic targets for operating profit, value creation from property and the conversion of legacy assets into cash The Group has delivered Continuing Underlying Operating Profit of £9.8m, an increase of 113% on the prior year The Development value of the property portfolio shows £52.1m of potential unrealised gain on independent Red Book basis Strong progress in the orderly realisation of legacy assets into cash, including the agreement to sell the surplus underground mining equipment Strong performance in trading operations in Germany compensated for legacy contract issues in Earthworks and a challenging final quarter for Logistics Continental European steel and specialised carbon markets remain buoyant, offering long term potential for investment and improved visibility and resilience of forward earnings Planning permission secured for Blindwells, a major new town development close to Edinburgh Brockwell Energy established to develop value from the Group's energy projects and assets without recourse to the Group's balance sheet Realisation of £25.5m of legacy assets into cash with an additional £3.2m of underground mining assets contracted for sale post year end The Net Asset Value per share excluding any unrealised property gains as at 31 May 2017 was £4.32 per share Focus on simplification continues Final dividend of 4.5 pence in line with the Group's 40% pay-out ratio target, bringing proposed full year dividend to 7.2p, a 213% increase on prior year Commenting on the results, Hargreaves Chairman David Morgan said: "These results demonstrate the excellent progress made by the Group over the last year. The achievement of our Group profit target was a positive step forward, which we believe marks a real turning point for the Group. The independent property valuation exercise provides further confidence about the longer term value that we aim to create from our property portfolio. Whilst challenges remain to be overcome in some of our businesses, we are on track to achieve or over-acheive the three key strategic goals we set ourselves in 2016. We will continue to be careful in managing capital allocation and risk as we move forward." Analyst meeting A meeting for analysts will be held at 10.00am this morning, 8 August 2017, at the offices of Buchanan, 107 Cheapside, London EC2V 6DN. Please contact Buchanan on 020 7466 5000 for further information. "Dividend The Board proposes a final dividend of 4.5p, consistent with the targeted 40% pay-out ratio. If approved at the Annual General Meeting, this will result in a dividend for the full year of 7.2p compared with 2.3p in the previous year, an increase of 213%. The proposed final dividend will be paid on 20 October 2017 to all shareholders on the register at the close of business on 22 September 2017." ***More via Link Bel
Property & Energy The Group expects to report profits for the Property and Energy Division that are in line with management expectations for the year end 31 May 2017. Following the grant of planning permission at Blindwells in East Lothian, the Group continues to make good progress towards generating between £35m to £50m of incremental value from its property and energy portfolios. The independent property valuation is continuing and the Group expects to report the results of that valuation with its preliminary results. Positive progress continues to be made in the development of the plans announced on 14 June 2017 to form an independent energy business. Legacy Asset Realisations and Exceptional Items The Group is pleased to report that excellent progress has been made in the realisation of cash from legacy assets. The contract for the sale of underground assets from Maltby represented an important milestone. Remaining legacy assets consist largely of mobile plant and loans due from the Tower joint venture, both of which are expected to convert fully into cash in future periods. The Group expects to book a net exceptional charge of £0.5m relating to various non-recurring trading items, asset impairment adjustments and discontinued activities. Net Debt Net Debt at 31 May 2017 was £15.7m (Net Debt at 30 November 2016: £36.9m). Working capital performance across the Group remained in line with expectations. Notification of Preliminary Results The Group expects to report its preliminary results for the year ended 31 May 2017 on 8 August 2017. A briefing for analysts will be held at 10.00am on the morning of the results announcement. For more information on the briefing, please contact Buchanan on 020 7466 5000.
5 July 2017 Hargreaves Services plc Post-Close Trading Update and Notification of Preliminary Results Hargreaves Services plc (AIM: HSP), a diversified group delivering key projects and services to the infrastructure, energy and property sectors, provides the following update on trading ahead of reporting its preliminary results for the year ended 31 May 2017. The Group is pleased to report that overall trading in the run up to the year end was consistent with management expectations and consequently the Group expects underlying operating profit for the year ended 31 May 2017 to be in line with current market expectations. Underlying profit before tax is expected to be ahead of market expectations due to the net interest charge being £0.4m lower than anticipated for the full year. Distribution and Services Operations The Coal Distribution Division, which includes results from our German operating associate, is expected to report profits above management expectations. Favourable market conditions and an expanded local trading team have combined to deliver significant outperformance from our German associate more than offsetting the continued softness in the UK coal distribution and production operations. This outperformance has allowed the Group to accelerate the repositioning of its UK operations; exiting its Immingham port terminal space and undertaking preparations for investment in new low-cost briquetting products at Maxibrite. Good progress has been made since the acquisition of Blackwell, moving the Earthworks business away from complex "design and build" civil engineering contracts to focus on its core competence of earthworks. Exceptional losses incurred in the year on legacy contracts have been partially mitigated by gains and profits from the realisation of plant. Excluding exceptional losses on legacy civil engineering contracts, the underlying operating profit for the Earthworks business is expected to be £1.0m below management expectations reflecting the expenses and margin impacts of withdrawing from civil engineering activities. All legacy contracts are now largely complete. Operating profit in the Industrial Services Division was in line with management expectations. A highly competitive market and low volumes combined to create an unusually poor final quarter performance for the Logistics Division and, as a result, the Division will report a full year break-even result, £1.3m below initial management expectations for the year. Management is focused on reducing overhead and re-scaling the operation to align to the current market conditions. Property & Energy The Group expects to report profits for the Property and Energy Division that are in line with management expectations for the year end 31 May 2017. Following the grant of planning permission at Blindwells in East Lothian, the Group continues to make good progress towards generating between £35m to
Even at 305 the price does not reflect the potential. Operating businesses are almost included for nothing. With a determined and talented board I am staying for the ride. The 465 target price per the Co Analyst might even be feasible!
A lot more to come here I think, transformation of the business well underway, mcap still very low.
So far the plans to capitalise Hargreaves's huge land have been purely aspirations. Now planning permission has been achieved for such a large site the market will have to reappraise. The Board deserves enormous credit for doggedly adapting to unpredictable changed circumstances making the land more valuable to build on than extract coal from. Bet against them succeeding in this new venture at your peril.
29 March 2017 Hargreaves Services plc ("Hargreaves" or "the Group") Planning Permission Granted for Blindwells Site Hargreaves Services plc (AIM: HSP), a diversified group delivering key projects and services to the infrastructure, energy and property sectors, is pleased to announce that it has today received planning approval in principle for 1,600 new homes at Blindwells, on part of a 392 acre site near Tranent in East Lothian, which is situated less than 15 miles from Edinburgh city centre. The approval, which includes affordable housing and mixed use development, represents the first phase of a wider master plan for more than 3,200 homes to be developed over the next 12-15 years. The Blindwells site, which was formerly an open cast coal mine until its closure in 2000, will require some initial consolidation work and the development of infrastructure such as roads and connections to utility networks. This work is expected to commence shortly and will require upfront capital investment by Hargreaves in groundworks and enabling infrastructure at a cost of approximately £5.0m, which is expected to be funded from the Group's existing resources. Subsequently, it is expected that Hargreaves will undertake the phased sale of residential development plots to national and local house builders over a number of years. The grant of planning is expected to generate a meaningful uplift to the market value of the Blindwells site relative to the book value included in the Group's Net Assets which totalled £129.2m at the 30 November 2016. As previously announced, the Group has commissioned a formal independent valuation of our property portfolio for publication in our Preliminary Results in August 2017, by which time we expect our assessment of the development options for the site will be more complete. The valuation report will include an assessment of the value of the Blindwells site reflecting today's grant of planning permission. Going forward this valuation will be revised and reported on annually to enable shareholders to track progress. Commenting on the planning approval, Iain Slater, Development and Estates Director for Hargreaves, said: 'We have worked in partnership with East Lothian Council to deliver its original vision for a new community and we are confident that Blindwells will provide a high quality lifestyle set around some of Scotland's finest countryside. We're delighted that the first phase has been granted planning approval in principle and we look forward to working with the Council to ensure delivery of the targeted development investment and associated benefits for East Lothian." Gordon Banham, Chief Executive Officer of Hargreaves, said: "We are delighted to have secured this planning permission. It marks another important milestone in achieving the target we set ourselves to deliver £35-50m of new value from our overall property portfolio over the next five
Rotto, thanks for that helpful answer. things are not always as they appear, lol.
Sovereign, 8.3 is historic and is more like just under 2% for 2017. With cash coming in from coal sales and an increasingly healthy balance sheet a top up divi would go down well with Punters who have experienced a lot of pain during the last 2 years!
'rotto' - is the divi currently being paid here & if so is the yield as high as 8.3%, which lse seems to suggest?
Hargreaves boosts safety and fuel savings with Mercedes Arocs Bulk materials logistics business Hargreaves Services has taken delivery of 21 Mercedes-Benz Arocs tractors, replacing another unnamed marque in its 130-strong tractor line-up. Supplied by dealer Bell Truck & Van, the Durham-based operator’s new additions are all 6x2 Arocs 2545 LS models with StreamSpace cabs and 449bhp straight-six engines. The Arocs are fitted with HARSH hydraulic kits and pull either bulk tipping or walking floor semi-trailers. Based across Hargreaves’ nationwide network of depots, they are supplied on an operating lease through Mercedes-Benz Financial Services, with Mercedes R&M contracts. Hargreaves has specified optional safety packs, including Active Brake Assist 3 autonomous braking and Proximity Control Assist systems, as well as driver’s airbags and large, easily-read instrument clusters. Fully compliant with FORS Silver, CLOCS and Crossrail specifications, the new vehicles are also fitted with a range of camera systems and sensors, including the Exeros CCTV system. Paul Boulds, Hargreaves’ workshops and fleet manager, says: “We have an excellent track record when it comes to safety. The decision to specify the optional ABA3 and Proximity Control Assist systems, to complement standard-fit Mercedes-Benz technology such as Lane Keeping Assist, can only enhance our reputation as a highly responsible operator. “While you cannot put a price on safety, the additional cost of these features was not prohibitive. Hopefully we won’t need them, but it’s nice to know they’re there just in case.” The vehicles also have Predictive Powertrain Control (PPC), which manages gear changes and speed depending on upcoming road conditions, and deploys the EcoRoll function to restrict diesel consumption and emissions. The dealer is rolling out driver training for Hargreaves, to ensure the operator can maximise fuel savings. “Fuel is of course a very substantial cost for our business, so we’re keen to try anything that might squeeze a bit more economy from the vehicle,” adds Boulds. “We have a very good relationship with Bell Truck and Van and I’m optimistic that its driver training support, coupled with the Arocs’ advanced engine technology and PPC systems, will result in some very worthwhile savings.” http://www.transportengineer.org.uk/transport-engineer-news/hargreaves-boosts-safety-and-fuel-savings-with-mercedes-arocs/149966/