Hargreaves Serv Regulatory News (HSP)

 24 March 2021

Hargreaves Services plc

("Hargreaves" or the "Group")

Contract Award

Hargreaves Services plc (AIM: HSP), a diversified group delivering services to the industrial and property sectors, is pleased to announce that its specialist earthworks business, Blackwell, has been appointed by the EKFB JV to carry out earthworks on part of the HS2 project.

The appointment follows Blackwell's 2018 engagement by the EKFB team as an advance works contractor and falls on the ninth anniversary of Blackwell's association with the HS2 programme in a professional services capacity.

The subcontract appointment is for 30km of the HS2 earthworks centred on Aylesbury in Buckinghamshire and involves the movement of nearly 15 million cubic meters of chalk and clay over the next four years. The award is the largest in Blackwell's 65 year history.

The award is a welcome addition to the Group's steadily growing order book, adding to the six framework agreements previously announced in the first half of the financial year. The appointment demonstrates further progress in the Group's stated plan to deliver reliable and growing profits from Distribution & Services.

Commenting on the appointment, Roger McDowell, the Chairman of Hargreaves, said: 'This is an excellent new award for our specialist earthworks business. HS2 is a significant high profile infrastructure project and the Board is pleased that this underpins the Blackwell business over the next few years.'

Note: EKFB JV is a joint venture comprising Eiffage, Kier, Ferrovial Construction and BAM Nuttall which has been appointed by HS2 Limited to complete the C2/C3 section of the HS2 Phase 1 project. Further details can be found at www.EKFB.com.

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