Hargreaves Services plunges on profit warning

Hargreaves Services lost around a third of its value after it issued a profit warning as a result of ongoing problems at one of its Maltby wells in South Yorkshire.

Hargreaves Services lost around a third of its value after it issued a profit warning as a result of ongoing problems at one of its Maltby wells in South Yorkshire.

The UK supplier of coal said further development on well T125 has had to be abandoned on health and safety grounds, and this will ultimately result in an adverse affect on profits for the year ending May 31st 2013 of between £12m and £16m.

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