StockMarketWire.com - Industrial and property services provider Hargreaves Services swung to a profit as cost cuts offset a fall in revenue owing to the impact of the pandemic.

For the year ended 31 May 2020, the company reported a pre-tax profit of £2.2m compared with a loss of £9.9m on-year, while revenue fell 26% to £222.2m.

The company achieved a further 16% reduction in central costs to £3.7m.

The final dividend of 4.5p was unchanged on-year following the cancellation of interim owing to Covid-19 impact, the company said.


At 9:26am: [LON:HSP] Hargreaves Services PLC share price was +10p at 210p



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