Hargreaves Full-Year Net Advances 20% as Expands Into Europe

Hargreaves Services Plc (HSP), a U.K. supplier of raw materials and transport for energy companies, said full-year profit rose 200 percent helped by the expansion of trading in coke and specialised coal into Europe.

Net income for the year ended May 31 advanced to 24.6 million pounds ($39 million) from 20.6 million pounds a year earlier, the Durham, England-based company said today in a statement. Sales rose 20 percent to 552.3 million pounds. Underlying operating profit at the energy and commodities division increased to 25.9 million pounds from 22.3 million pounds.

“We continue to view the long-term with confidence,” Chairman Tim Ross said in today’s statement.

To contact the reporter on this story: Colm Heatley in Belfast at cheatley@bloomberg.net

To contact the editor responsible for this story: Colin Keatinge at ckeatinge@bloomberg.net

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