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Hargreaves Services

November 2013

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • HSP
  • Price:
  • 900p
Another of our New Year tips to have burst into life recently, up £1 on the month, although we have been fans since float. This month’s results for the year to 31 May were as good as could be expected, in a year when the deep mine at Maltby was closed down, fraud was discovered at the Belgian subsidiary and some sizeable surface coal mining assets were acquired.Adjusting for £81m of exceptional losses from Maltby and Belgium and with a modest contribution from the surface mining assets, pretax profit was an almost same-again £52.2m (versus £52.9m) on  sales up £225m to £843m. The closures resulted in a sizeable cash outflow leaving net debt at £77.9m. Eps was 134.6p.Divisionally, the coal trading and distribut ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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