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Hargreaves Services - “Ahead of expectationsâ€

February 2009

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:
  • 520p
Given that the Sharewatch Growth Portfolio II is top heavy in Hargreaves, it was pleasing to read the latest statement confirming that the group performed ahead of expectations for the first six months of the year. In light of the statement, Brewin Dolphin has upgraded its forecast for the second time since October. For the year to 31 May, it has increased its eps forecast from 65p to 75p and that for next year rises from 80p to 90p.These forecast upgrades also include the benefit of an acquisition that was announced during the month. This is the purchase of UK Coal's 50% share of Coal4Energy (C4E) for £9m, a move that will enable Hargreaves to consolidate all its turnover and profit going forward. C4E was previously a 50:50 JV b ...

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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