image

The best stocks to buy since 1993

Latest issue now available

Hargreaves - Changing mix of business

March 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:
  • 497p
The shares enjoyed a brief spike over £6 ahead of Hargreaves reporting barnstorming H1 results to 30 November. Sales were up 70% to  £296.5m and underlying operating profit (virtually all organic!) was up 76% from £9.2m to £16.2m. Pretax profit went from £7.1m to £13.9m.  As we foreshadowed in October, Hargreaves' production division really shone. The businesses within this division are Maltby Colliery, a coal mine in South Yorkshire and Monckton, which is involved in the production of coke. Together these two more than doubled operating profit contribution from £4m to £8.3m. Maltby production proved strong and was assisted by the lack of a face change (the process of moving to a new area of coal) that had ...

To access our archive of articles and to receive current issues you need to subscribe.

Subscribe now

Already a subscriber? Login

Related Articles

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

LIMITED PERIOD OFFER

SUBSCRIBE TODAY AND SAVE £40 WITH OFFER CODE 40OFFSCSW

To access our archive of articles and to receive current issues you need to subscribe