Solid fuels and bulk material logistics business Hargreaves Services has boosted pre-tax profits by 9.6 per cent from £14.7 million to £16.1 million for the six months to the end of November.
The group says it is continuing to face challenging geological conditions at Maltby Colliery, near Rotherham, but is optimistic that major equipment issues, which affected the colliery last year, are now resolved.
Hargreaves says t he colliery’s T24 face performed strongly for most of the rest of the first half of the year, having started in July after it finished working the colliery’s problematic T11 face.
“We continue to work hard and productively with staff and management at the colliery to restructure working practices and improve productivity. The recovery, conditioning and sale of pond fines has progressed well with a good stock on the ground to fulfil second half shipments,” says Hargreaves.
Chairman Tim Ross said: “Another great set of results. We believe this will be another exciting year for Hargreaves.”