Business
Preliminary Results - Replace
Preliminary Results - Replace.
About this update from Hargreaves Services Plc
[{"type":"text","content":"\n RNS Number : 4864D Hargreaves Services PLC 15 September 2008 \n \n\n\n\n\nFor immediate release\n\n\n15 September 2008\n\n\n\n\n\nThe issuer has made the following amendment to the 'Preliminary Results' announcement released on 15 September 2008 at 7.00 am under RNS number 3930D.\n\n'The final dividend is proposed to be paid on 12 November 2008 to all shareholders on the register at the close of business on 26 September 2008.'\n\nA full corrected version of the announcement is set out below:\n\n\n\n\n\nHARGREAVES SERVICES PLC \n(the 'Company' or the 'Group')\n\nPreliminary results \nfor the year ended 31 May 2008\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 2008. \n\nHIGHLIGHTS\n \n\n\n\n\n\n\n\nYear ended 31 May 2008\n\n\n\nYear ended\n31 May\n2007\n\n\nChange\n%\n\n\n\n\nRevenue \n\n\n£404.9m\n\n\n£240.1m\n\n\n+69%\n\n\n\n\nOperating Profit\n\n\n£22.1m\n\n\n£9.9m\n\n\n+123%\n\n\n\n\nUnderlying Operating Profit (1)\n\n\n£23.6m\n\n\n£10.8m\n\n\n+118%\n\n\n\n\nProfit Before Tax\n\n\n£17.9m\n\n\n£9.6m\n\n\n+86%\n\n\n\n\nUnderlying Profit Before Tax (2)\n\n\n£19.0m\n\n\n£10.2m\n\n\n+86%\n\n\n\n\nDiluted EPS\n\n\n46.7p\n\n\n26.3p\n\n\n+78%\n\n\n\n\nUnderlying Diluted EPS (2)\n\n\n51.1p\n\n\n28.8p\n\n\n+77%\n\n\n\n\nProposed Full Year Dividend\n\n\n10.3p\n\n\n9.0p\n\n\n+14%\n\n\n\n\n \n\n\n\nRecord results ahead of expectations\n\n\nStrong organic growth and operating margin progression across all divisions\n\n\nPositive cash generation in second half reduced net debt by £10.7m to £46.2m\n\n\nRecoverable coal reserves substantially increased, extending the potential life of Maltby Colliery from 2017 by up to 8 years\n\n\nWell-positioned to progressively benefit from increases in world coal and coke prices over the next three years\n\n\nStrong order book and forward revenue visibility. Good prospects for further organic growth in all divisions\n\n\nThree acquisitions were completed in the year to complement and broaden the Group's product and servic...