George Frangeskides, Exec-Chair at Alba Mineral Resources, discusses grades at the Clogau Gold Mine. Watch the full video here.

Less Ads, More Data, More Tools Register for FREE
Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRoc
Stefan Bernstein explains how the EU/Greenland critical raw materials partnership benefits GreenRocView Video
Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investors
Utilico Insights - Jacqueline Broers assesses why Vietnam could be the darling of Asia for investorsView Video

Latest Share Chat

Hargreaves Services lifts forecasts amid strength at German venture

Tue, 03rd May 2022 13:07

(Sharecast News) - Industrial and property service provider Hargreaves Services hiked its expectations further on Tuesday, due to "continuing strong performance" at its German joint venture Hargreaves Raw Materials Services (HRMS).

The AIM-traded firm said commodity prices, specifically pig iron and zinc, were still having a positive benefit on the results of HRMS and its subsidiary, DK Recycling und Roheisen.

It said HRMS management was "confident" that the venture had sufficient visibility for the rest of the current financial year to expect its contribution to Hargreaves' results to increase by around £5m after tax from prior consensus estimates.

Additionally, the board said it expected some benefit to fall into the first quarter of the 2023 financial year, resulting in an increase of approximately £1.5m after tax against consensus estimates.

It said it remained difficult to predict how long the favourable market conditions would prevail, with both the German management team and the board "cautious" about the medium-term sustainability of the positive trading conditions.

The rest of the group's businesses were trading in line with market expectations, the directors added.

"Clearly current market conditions are extremely favourable, and the board is impressed with the way in which the HRMS team is successfully navigating the opportunities that the market is presenting," said Hargreaves Services' chairman Roger McDowell.

At 1154 BST, shares in Hargreaves Services were up 1.35% at 600p.

Related Shares

More News
14 Mar 2024 15:06

UK dividends calendar - next 7 days

4 Mar 2024 16:30

EARNINGS AND TRADING: Impairment charge pushes Quartix into the red

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported...

24 Jan 2024 12:15

Hargreaves Services lifts dividend despite drop in profit and revenue

(Alliance News) - Hargreaves Services PLC on Wednesday upped its interim dividend, despite a drop in revenue and profit.

17 Jan 2024 15:42

UK earnings, trading statements calendar - next 7 days

21 Dec 2023 16:38

Hargreave services ups dividend despite German JV disappointment

(Alliance News) - Hargreaves Services Group PLC on Thursday revealed unpromising results from its German joint venture, but still intends to increase ...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.