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Hargreaves Al Ms for £6.6m profit
Page 16
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HARGREAVES SERVICES, the Durham-based hauler that floated on the Alternative Investment Market (AIM) last year, has assured its investors that t is on course to make an annual pre-tax profit of more than E6m.
The company reports that its results for the year ending 31 May are expected to be in line with market expectations. Industry analysts are expecting Hargreaves to record profits of £6.6m on a turnover of E150m.
Hargreaves recently completed the E2m acquisition of Gilbraith Tankers, based in Accrington, Lancs.
In a recently published trading update Hargreaves' directors add that its order book at the end of May was "substantially higher" than at the same time in 2005, thanks to a number of new contracts.
Hargreaves currently employs about 500 people and runs nearly 400 vehicles. Its shares were trading at 384p last Friday (30 June).
Gordon Banham, group chief executive, comments: Were pleased with the progress the group has made in the period since its flotation on AIM."