TIDMHSP

RNS Number : 2434T

Hargreaves Services PLC

24 March 2021

24 March 2021

Hargreaves Services plc

("Hargreaves" or the "Group")

Contract Award

Hargreaves Services plc (AIM: HSP), a diversified group delivering services to the industrial and property sectors, is pleased to announce that its specialist earthworks business, Blackwell, has been appointed by the EKFB JV to carry out earthworks on part of the HS2 project.

The appointment follows Blackwell's 2018 engagement by the EKFB team as an advance works contractor and falls on the ninth anniversary of Blackwell's association with the HS2 programme in a professional services capacity.

The subcontract appointment is for 30km of the HS2 earthworks centred on Aylesbury in Buckinghamshire and involves the movement of nearly 15 million cubic meters of chalk and clay over the next four years. The award is the largest in Blackwell's 65 year history.

The award is a welcome addition to the Group's steadily growing order book, adding to the six framework agreements previously announced in the first half of the financial year. The appointment demonstrates further progress in the Group's stated plan to deliver reliable and growing profits from Distribution & Services.

Commenting on the appointment, Roger McDowell, the Chairman of Hargreaves, said: 'This is an excellent new award for our specialist earthworks business. HS2 is a significant high profile infrastructure project and the Board is pleased that this underpins the Blackwell business over the next few years.'

Note: EKFB JV is a joint venture comprising Eiffage, Kier, Ferrovial Construction and BAM Nuttall which has been appointed by HS2 Limited to complete the C2/C3 section of the HS2 Phase 1 project. Further details can be found at www.EKFB.com.

For further details:

 
 Hargreaves Services 
  Gordon Banham, Chief Executive 
  Officer 
  John Samuel, Group Finance Director     0191 373 4485 
 Buchanan (Financial PR) 
  Mark Court/Sophie Wills/Henry 
  Wilson                                  0207 466 5000 
 N+1 Singer (Nomad and Joint Corporate 
  Broker) 
  Sandy Fraser/Justin McKeegan/Rachel 
  Hayes                                   0207 496 3000 
 Investec (Joint Corporate Broker) 
  Sara Hale/David Anderson/Shalin 
  Bhamra                                  0207 597 5970

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March 24, 2021 03:00 ET (07:00 GMT)

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