Hargreaves Services trading in line with revised expectations

AIM-listed Hargreaves Services said on Tuesday that trading is in line with its revised expectations following the announcement that one of its customers, Wolf Minerals, has stopped trading and the completion of the Brockwell Energy sale.

In a very brief update ahead of its annual general meeting, the company said net funds of £15m from the Brockwell sale have been applied to reduce short-term overdraft borrowings.

Hargreaves said it expects to provide another update in early December, prior to its interim results in January.

The company announced earlier this month that it had completed the sale of Brockwell Energy to Lantern Bidco for £23m.

At 1100 BST, the shares were up 1.9% to 328.20p.