Industrial services group Hargreaves has had its revenue tumble by nearly £27m in the year after it exited the coal industry.
The London-listed group recorded £177.9m in revenue for the 12-months to 31 May, down from £204.8m in 2021.
However, the group’s earnings per share have more than doubled, signalling the investor appetite for more climate-aligned shareholdings.
The company has also snagged its highest profit in seven years, according to chairman Roger McDowell, which came in at £34.5m, which “illustrate the group’s agility in taking advantage of market conditions.”
The mining sector, in which Hargreaves is prominent, has performed particularly well on London’s market in recent weeks.
A global push into green power has also seen Hargreaves rake in its first rental incomes from its renewable energy land portfolio.
The group finished the financial year with a debt-free balance sheet.