Engineering project award at Sizewell C

Hargreaves Services plc (AIM: HSP), a diversified group delivering services to the environmental, infrastructure and property sectors, announces it has been selected by Sizewell C Limited for the design, procurement, manufacture, installation, testing and commissioning of three foul water treatment facilities required for the construction of the Sizewell C nuclear power project. The contract is expected to be delivered over a two-year period, commencing in early 2027.

The award further strengthens Hargreaves' position within the UK infrastructure and energy sectors and reflects the Group's specialist engineering and project delivery capabilities. The contract is expected to contribute revenues across FY27 to FY28 and provides additional visibility over the Group's medium-term workload and order book.

The Board expects the award of the contract will help underpin existing Group revenue and underlying profit before tax forecasts in the year ending 31 May 2027 and 31 May 2028, based on the planned phasing of the contract.

Commenting on the award, Simon Hicks, Chief Executive of Hargreaves Services plc, said: “We are delighted to have been selected by Sizewell C for this critical aspect of the wider nuclear project. The award reflects the growing strength of our engineering and project delivery capabilities and further demonstrates our ability to support nationally significant clean energy and infrastructure developments across the UK."

Jon Loveday, Sizewell C’s Chief Commercial Officer, said: “We’re delighted to secure the services of Hargreaves Services PLC. This is yet another significant UK contract for Sizewell C and it shows once again the value that this project offers to businesses right across the country. Our spend in the UK is now around £5bn, and over a thousand UK suppliers have already benefited from work on the project – that’s thousands of jobs and a big investment in the future of our supply chain.”

*The Company considers consensus market expectations prior to the release of this announcement for the year ending 31 May 2027 to be revenue of £292.1 million and underlying PBT of £17.9m. The Company considers consensus market expectations for the year ending 31 May 2028 prior to the release of this announcement to be revenue of £305.2 million and underlying PBT of £18.6 million.