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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Hargreaves Services Plc    HSP   GB00B0MTC970

HARGREAVES SERVICES PLC

(HSP)
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Hargreaves Services : warns of profit hit from possible British Steel collapse

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05/22/2019 | 02:46am EDT
A British Steel works sign is seen in Scunthorpe

(Reuters) - Hargreaves Services Plc said a possible collapse of British Steel, the country's second largest steel producer, would hit the industrial and property services provider's revenue and pretax profit in the next financial year.

Hargreaves has supplied materials handling and other services to British Steel's operations for almost eight years, employing about 170 people in those operations, it said.

British Steel is on the brink of collapse unless the government agrees to provide an emergency 30 million pound loan, two sources close to the situation told Reuters on Tuesday.

If British Steel ceases to trade, this could reduce Hargreaves Services' revenue in the next financial year by about 11 million pounds and its pretax profit by about 1.3 million pounds, it said.

The company said it estimates a current net exposure of about 4.5 million pounds to British Steel comprising trade debt and work-in-progress balances, some or all of which may prove to be irrecoverable were British Steel to be unable to continue trading.

Hargreaves also warned of redundancy costs, potential asset write downs and leasing obligations.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Alexandra Hudson)

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Financials (GBP)
Sales 2020 243 M
EBIT 2020 7,40 M
Net income 2020 4,20 M
Debt 2020 18,7 M
Yield 2020 2,96%
P/E ratio 2020 18,5x
P/E ratio 2021 12,3x
EV / Sales2020 0,40x
EV / Sales2021 0,36x
Capitalization 78,1 M
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Technical analysis trends HARGREAVES SERVICES PLC
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TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 2
Average target price 435,00  GBp
Last Close Price 243,00  GBp
Spread / Highest target 79,0%
Spread / Average Target 79,0%
Spread / Lowest Target 79,0%
EPS Revisions
Managers
NameTitle
Gordon Frank Colenso Banham Group Chief Executive Officer & Executive Director
Roger Steven McDowell Chairman
John William Young S. Samuel Group Director-Finance & Director
Nigel Leslie Halkes Independent Non-Executive Director
David Robert Anderson Director & Group Property Director
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