11 February 2014 – interim results
An excellent set of interim results has been posted by Hargreaves Services. Continuing revenue in the six months to 30 November was up 28% at £460.5m. Underlying profit before tax was £28.5m (2013: £23.3m), which translated into diluted underlying earnings per share of 65.0p versus 60.5p a year earlier. The interim dividend was lifted from 6.9p per share to 8.8p. The company is confident of meeting market expectations for the full year and on that basis the shares remain cheap. BUY.