The insolvency of a major mining customer cost Hargreaves Services more than £8m last year, the group revealed today. In its interim results, Hargreaves Services, whose distribution and services division includes Hargreaves Logistics and Hargreaves Waste Services, detailed the impact of Wolf Minerals’ insolvency. The resulting loss of the contract at the Hemerden tungsten mine in Devon last October saw Hargreaves record an exceptional charge of £8.1m in the six months to 30 November 2018. This comprised a £5.1m write […]
Transport firms are riding the current Stock Market bubble. This week the FTSE 100 hit its highest level since October 2007 (6,755 on Monday to be precise). While none of the six operators in the MT Tracker basket of transport shares are anywhere near making the FTSE 100, or the FTSE 250 for that matter, the total value of the basket hit a record high today of 1,842.
The tale of Stobart’s ever falling share price. Two weeks ago, in the wake of Avril Palmer-Baunack’s unceremonious demotion, this column wrote about the woes of backing the Stobart horse. Even the gloss of a three-year deal with Tesco couldn’t reverse it’s fortunes (and given Tesco’s current performance there can’t be that much gloss). However the machinations of the Stobart board have continued to hurt its performance on the stock market.
Hargreaves Services is keeping a watching brief after client British Steel went into liquidation.