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

HARGREAVES SERVICES PLC

(HSP)
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Delayed Quote. Delayed London Stock Exchange - 06/20 11:35:09 am
232 GBp   +1.75%
06/04HARGREAVES SERVICES : Full Year Trading Update and Results Notification
PU
05/30HARGREAVES SERVICES PLC : annual sales release
05/28Multiple parties register interest in British Steel
RE
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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 2019 296 M
EBIT 2019 9,60 M
Net income 2019 1,10 M
Debt 2019 11,8 M
Yield 2019 3,36%
P/E ratio 2019 28,50
P/E ratio 2020 12,53
EV / Sales 2019 0,29x
EV / Sales 2020 0,32x
Capitalization 73,2 M
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 1
Average target price 4,91  GBP
Spread / Average Target 115%
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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