Hargreaves reports rise in revenue and profits

REVENUE and pretax profits have surged at industrial group Hargreaves Services as its CEO has announced he will step down in the summer.

- TOM KEIGHLEY Business writer

> Hargreaves Services has seen profits rise

Unaudited half-year results for the County Durham group show work in the clean energy, connectivity and environmental services has driven growth, including new contracts in waste-to-energy for Enfinium and waste management for Beauparc.

Hargreaves is also in the final stages of agreeing work on the Lower Thames Crossing and hopes to pick up earth-moving contracts worth up to £100m.

In the six months to the end of November, Hargreaves saw revenue jump more than 46% to £183.1m while pretax profits soared, increasing nearly 170% to £14.3m. The company's services business alone generated revenue of £171.4m across the period, and pretax profit of £11.7m.

Hargreaves also completed the long-awaited sale of its first tranche of renewable energy land.