Partner Article

Hargreaves looks to Europe

ENERGY support services giant Hargreaves yesterday told investors it would focus on continued growth in Europe as it predicted strong financial results.

The County Durham group, which runs Maltby Colliery and Monckton Coke Works in Yorkshire and logistics, waste and industrial services, also said its aborted merger with UK Coal would cost it £230,000 in admin expenditure.

The group said its overall results were expected to be in line with management expectations while its UK-based coal operations have continued to perform very strongly.

It also said trading and profitability levels in Europe had continued to increase and perform ahead of management expectations during the second half.

Meanwhile, the company also yesterday announced a new three-year contract with Xstrata in South Africa to take up to 100,000 tonnes of coke per annum.

The business said it was “pleased with the progress that is being made in developing the European business and will continue to focus efforts and investment at developing this market presence.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .