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Trading statements

Hargreaves Services on track

03 October 2017 09:47

Hargreaves Services' trading, both at group level and in its services and distribution division, is in line with expectations, shareholders at today's annual general meeting will be told.

A statement before the meeting said that in the property division, the development of Blindwells, a major housing development in East Lothian, was progressing well and in line with expectations.

It added: 'We are also pleased to note that sale processes are advancing for a number of other material properties and although timing of such sales remains hard to forecast, the Board is encouraged with progress and activity levels.'

The board also announced that John Samuel had been recruited to succeed Iain Cockburn as group finance director when Cockburn moved to join Brockwell Energy in a full-time capacity.

Th group said Samuel would join the board on 2 Jan and Cockburn would continue in his current dual role until that time.

The group said that as it continued to pursue its strategy to simplify and streamline, agreement had been reached that group commercial director Kevin Dougan would step down from the board and leave the group with effect from 1 Dec.

It said this position would not be replaced.

At 9:47am: (LON:HSP) Hargreaves Services PLC share price was +3.88p at 342.75p

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