Hargreaves slumps into the red

Hargreaves Services, the Aim-listed fuel logistics supplier, yesterday posted a 4.2 per cent decline in pre-tax profits for the year, due to the closure of Maltby deep mine and fraud issues at its Belgian business. However, the firm reported a 36.5 per cent rise in revenue, boosted by strong performances from its UK coal distribution and core material handling services businesses. The firm is raising its dividend by 15.3 per cent.