Simon Thompson 

Targeting value plays

Simon Thompson

Simon Thompson

Hargreaves Services (HSP:209p), a diversified industrial services group and brownfield land developer is set to reap the major benefits of its strategic transformation over the past four years, culminating in the recent cessation of UK coal mining. Coal inventories will be wound down from £40m to £8m-£10m over the next two years, the bumper cash flow from which will pay down net debt of £28m and be recycled into lucrative land regeneration activities.

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