Business
Preliminary results for the year ended 31 May 2013
Preliminary results for the year ended 31 May 2013.
About this update from Hargreaves Services Plc
[{"type":"text","content":"\n \nRNS Number : 7181O Hargreaves Services PLC 24 September 2013 \n \n\n \n\n\n\n\nFor Immediate Release\n\n\n24 September 2013\n\n\n\n\n \n \n \nHARGREAVES SERVICES PLC \n(the \"Company\" or the \"Group\" or \"Hargreaves\")\n \nPreliminary results for the year ended 31 May 2013\n \nHargreaves Services plc (AIM: HSP), the UK's leading supplier of solid fuel and bulk material logistics, announces its preliminary results for the year ended 31 May 2013.\n \nHighlights of the year\n\n\n\n\n\n\n\n \nYear ended 31 May 2013\n\n\nRestated\nYear ended\n31 May 2012\n\n\n \nChange\n%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nContinuing Revenue\n\n\n£843.3m\n\n\n£617.9m\n\n\n+36.5%\n\n\n\n\nContinuing Operating Profit\n\n\n£44.0m\n\n\n£48.9m\n\n\n-10.0%\n\n\n\n\nContinuing Underlying Operating Profit (1)\n\n\n£55.7m\n\n\n£53.4m\n\n\n+4.3%\n\n\n\n\nContinuing Profit Before Tax\n\n\n£43.1m\n\n\n£45.0m\n\n\n-4.2%\n\n\n\n\nContinuing Underlying Profit Before Tax (2)\n\n\n£52.2m\n\n\n£49.3m\n\n\n+5.9%\n\n\n\n\nContinuing Diluted EPS\n\n\n111.0p\n\n\n113.7p\n\n\n-2.4%\n\n\n\n\nContinuing Underlying Diluted EPS (2)\n\n\n134.6p\n\n\n125.0p\n\n\n+7.7%\n\n\n\n\nDividend (including proposed final dividend)\n\n\n20.5p\n\n\n17.8p\n\n\n+15.2%\n\n\n\n\nNet Debt (3)\n\n\n£77.9m\n\n\n£77.7m\n\n\n+0.3%\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n· Strong performances from coal distribution business in the UK and from core material handling services business\n· Coke trading operations remain exposed to significant steel sector volatility\n· Underlying profit before tax from continuing operations increased by £2.9m from £49.3m to £52.2m\n· Acquisition of surface mining assets of ATH Resources completed in May 2013 following successful £42m equity raise in April 2013\n· Coal production underway at ATH sites and performing in line with plans\n· Acquisition of assets from Scottish Coal completed post year end in July 2013, with steps underway to commence production at various sites\n· Discontinued activities - Maltby closure and Belgium wind-down both progressing in line with expectations\n· &...