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Hargreaves Services - Gets Tower colliery approval

August 2011

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • HSP
  • Price:
  • 898p
Hargreaves bounced to 1060p after receipt of the long-awaited planning approval for its Tower Colliery project. This will enable it to develop its 7m tonne open cast coal mine at the site in Glamorgan, South Wales. With most of the infrastructure in place, progress is going to be rapid. Arbuthnot notes that Tower is a “£60m revenue opportunity offering the prospect of 10% or greater upgrades to forecasts in its first full year.†Meanwhile Brewin Dolphin expects a similar upgrade once the final details are finalised with the council later this month. Their current forecast eps is 119.6p before the expected upgrade, which would put the shares on a PE of 7.5. Strong hold. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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