Tip update: Asset rich Hargreaves Services

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Interims from Hargreaves Services (LON: HSP) had already been flagged in the recent trading statement and management is confident that the German operations will turnaround in the second half on the back of commodity price movements.

The interim dividend has been raised to 18p/share and the final should be the same, providing a yield of 7.7%. This should continue for the foreseeable future. There are also significant assets not reflected in the balance sheet.

The German associate HRMS is expected to return to profit for the full year. The commodity trading business should do better in t...

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