News: Hargreaves results in line with management expectations

Hargreaves Services plc, the UK's leading energy support services provider and owner and operator of Maltby Colliery in Rotherham, has announced its trading update for the six months ended 30 November 2010.



The group announced that results are expected to be in line with management expectations.

The update stated that underground production at Maltby has improved following the slow start to the year.

In their Preliminary Results statement in September, Hargreaves reported that they had completed the change to a new face at Maltby but the performance had been a disappointment despite the investment. The group were hopeful that production consistency would improve.

In their outlook, the board remain confident about the prospects for the group and of achieving management expectations for the full year for both profit and cash generation.

Hargreaves website

Images: hargreavesservices.co.uk