By Joe Hoppe
Hargreaves Services said Thursday that it expects to at least meet market expectations for fiscal 2023, after a strong performance from its Services business and a better-than-expected contribution from its German joint venture.
The industrial-and-property services company didn’t provide any figures for the year ended May 31. In fiscal 2022, it reported a pretax profit of 34.5 million pounds ($42.9 million) and revenue of GBP177.9 million.
The company said it expects a strong performance from Services on increased revenue including that at HS2. The joint venture returned a better-than-expected contribution, though this was still a substantial on-year reduction as commodity prices stabilized. The contributions have however offset the negative effect of some delayed transactions with the Hargreaves Land unit.
Hargreaves expects to report fiscal 2023 results on July 26.
Write to Joe Hoppe at joseph.hoppe@wsj.com
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