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Hargreaves Services

June 2012

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:
  • 785p
The shares were hit after Hargreaves said it has encountered unusual geological problems at the Maltby Colliery near Rotherham. Its cutting equipment had been moving to the thicker part of the seam but has seen “increasing ingress of water, oil and gas.†Such conditions have not been seen at Maltby before or indeed anywhere by its internal and external consultants. It is localised to this section of the mine and consequently moving the equipment to a safer part of the mine will take between 12-16 weeks and the profit impact is roughly £1m a week. Assuming the worst case of 16 weeks, the forecast for the year starting 1 June comes back by 25% to £46.9m (eps 115p). We’re happy to give the company th ...

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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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