Business
Preliminary Results - Amendme
Preliminary Results - Amendme.
About this update from Hargreaves Services Plc
[{"type":"text","content":"\n RNS Number : 0600Z Hargreaves Services PLC 15 September 2009 \n \nPlease note that this announcement replaces the previously submitted Preliminary Results released under RNS number 0430Z due to a minor alteration to the Consolidated Cash Flow Statement \n\n\n\n\nFor immediate release\nRNS Number :\n\n\n15 September 2009\n\n\n\n\n\n\n\n\nHARGREAVES SERVICES PLC \n(the 'Company' or the 'Group')\n\nPreliminary results for the year ended 31 May 2009\n\nHargreaves Services plc (AIM:HSP), a leading supplier of products and services to the energy, mineral and waste sectors announces its preliminary results for the year ended 31 May 2009. \n\n\nHIGHLIGHTS\n \n\n\n\n\n\n\n\nYear ended \n31 May 2009\n\n\nYear ended\n31 May 2008\n\n\nChange\n%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue \n\n\n£503.1m\n\n\n£404.9m\n\n\n+24.3%\n\n\n\n\nOperating Profit\n\n\n£29.8m\n\n\n£22.1m\n\n\n+34.9%\n\n\n\n\nUnderlying Operating Profit (1)\n\n\n£33.5m\n\n\n£23.6m\n\n\n+42.1%\n\n\n\n\nProfit Before Tax\n\n\n£26.2m\n\n\n£17.9m\n\n\n+46.5%\n\n\n\n\nUnderlying Profit Before Tax (2)\n\n\n£28.6m\n\n\n£19.0m\n\n\n+50.2%\n\n\n\n\nDiluted EPS\n\n\n67.3p\n\n\n45.7p\n\n\n+47.1%\n\n\n\n\nUnderlying Diluted EPS (2)\n\n\n76.3p\n\n\n51.1p\n\n\n+49.2%\n\n\n\n\nProposed Full Year Dividend\n\n\n11.8p\n\n\n10.3p\n\n\n+14.6%\n\n\n\n\n \n\n\nRecord results\n\n\nEPS growth of 49% achieved\n\n\nStrong performance across all divisions\n\n\nDividend increased 14.6% to 11.8 pence\n\n\nNew syndicated £115m, 3 year committed credit facility signed\n\n\nStrong underlying cash generation\n\n\nWell positioned for further growth\n\n\n\nCommenting on the results, Chairman Tim Ross said: 'All the divisions are well placed to continue to drive further profit growth both organically and by complementary acquisitions. The Board continues to view the current year with significant confidence and expects the Group to build on its impressive track record.' \n\n\n(1) Underlying Operating profit is stated excluding the amortisation of acquired intangibles and release of negative goodwill and including share of profit in joint ventures and associates \n\n(2) Underlying Profit before tax and EPS are stated excluding the amortisation of acquired intangibles and release of negative goodw...