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 […]
Hargreaves Services is confident it can rebuild turnover and profit in its logistics business after the division suffered a 47% drop in operating profit to £2.3m last year.
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.
Heavy truck sales are expected to surge at least 10% in 2013 compared with this year as operators delay buying Euro-6 vehicles, which will replace Euro-5 in 2014. The predicted spike in Euro-5 sales in 2013 is expected to result in longer lead times for new trucks. One operator, Andrew Spence-Wolrich, general manager of bulk specialist Hargreaves Transport, has been told he must order Euro-5 trucks by March 2013 to be sure of getting them. Truck makers MT spoke to […]