A robust H1 update indicates that Hargreaves’ interims (27th Jan ’21) will be in line with expectations. Full year expectations are also reiterated. There is positive contract news for Industrial Services and further progress at Hargreaves Land. Strong cash generation has been a highlight of the recent performance with net bank debt reducing to £8.0m and still falling. The shares have participated in the market rally of recent weeks but remain modestly valued (FY22 P/E 10x, dividend yield 7.5%).
09 Dec 2020
Trading in line, strong cash generation
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Trading in line, strong cash generation
Hargreaves Services plc (HSP:LON) | 571 11.4 0.4% | Mkt Cap: 187.3m
- Published:
09 Dec 2020 -
Author:
James Tetley -
Pages:
3
A robust H1 update indicates that Hargreaves’ interims (27th Jan ’21) will be in line with expectations. Full year expectations are also reiterated. There is positive contract news for Industrial Services and further progress at Hargreaves Land. Strong cash generation has been a highlight of the recent performance with net bank debt reducing to £8.0m and still falling. The shares have participated in the market rally of recent weeks but remain modestly valued (FY22 P/E 10x, dividend yield 7.5%).