Hargreaves Services Plc (HSP.L), a diversified services provider to the industrial and property sectors, on Wednesday reported that its first-half profit before tax climbed 96.3 percent 5.3 million pounds from last year's 2.7 million pounds.
Earnings per share grew to 12.2 pence from last year's 5.2 pence.
EBITDA, a key earnings metric, grew 21.1 percent to 14.9 million pounds from last year's 12.3 million pounds.
Revenue increased 13.7 percent to 125.3 million pounds from last year's 110.2 million pounds, driven by revenue growth within Services, especially in earthmoving activities.
Further, the company announced that interim dividend has been increased by 3% to 18.5 pence, reflecting the growth in profit and strong forward visibility.
Looking ahead, for fiscal 2025, the Board anticipates the Group will perform in line with market expectations.
In Services, the Board expects to exceed revenue expectations by 10% for the year as well as future years, with the Company securing high levels of visibility.
The company noted that despite the completion of a material sale at Blindwells, another planned sale is likely to be delayed until early in the next financial year due to a delay in securing technical approval for site access. This delay is expected to offset the anticipated gains in Services.
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