The collapse of British Steel and Wolf Minerals left Hargreaves Services £16.1m out of pocket for the year ended 31 May, the company said today. Publishing its full year accounts, Hargreaves Services said the cessation of trading at Wolf Minerals last October and the liquidation of British Steel in May turned it loss making in the period, though the company described its underlying performance as “satisfactory”. The loss came after Hargreaves Services recorded an £8.1m exceptional charge in regards Wolf […]
City Link failed to turn a profit on Friday posting a pre-tax loss of £26.4m while turnover for the year was up 4.8% to £321.7m. Rentokil was disappointed and said the “financial performance in the year was behind our initial expectations”.
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.