Hargreaves trading in line with expectations

In a statement ahead of its half year results, the company said for the period for the six months ended November 30, underground production at Maltby Colliery near Rotherham had improved.

It expects its half year results to be in line with management expectations.

Hargreaves said net debt would be higher than the start of the year due to the seasonal building of winter coal stocks and the contracted shipment of that stock in the second half has given the company the belief that its year end net debt and cash generation targets will be met.

It also hopes to receive planning permission for its Tower Colliery project early in the New Year.

Hargreaves said: "The board remain confident about the prospects for the group and of achieving management expectations for the full year for both profit and cash generation."

The group expects to announce its interim results on February 21.