The diverse, North East-based group published full year results to the London Stock Exchange

Industrial group Hargreaves Services has delivered its highest pre-tax profits in 12 years amid growth across its diverse offer.

The County Durham-based group saw revenue climb nearly 33% to £351.4m in the year to end of May as pre-tax profits surged more than 130% to £40.3m. Underyling pre-tax profits were up 93.2% to £34m.

Growth came from all three of Hargreaves’ key areas including its Services division, its Land regeneration business and its German joint venture. Hargreaves bosses said the bumper results were evidence that its strategy of recent years across those divisions had worked.

Highlights included the first work secured on the Lower Thames Cross as well as resolution to its deal with Devon mining partner Tungsten West. In the Land division, two pieces of renewable energy land were sold for an initial cash sum of £15.6m – helping the board to decide on a £20m return of surplus cash to shareholders via a tender offer.

And in Germany, where Hargreaves operates a raw materials supply and metals recycling businesses, results improved for the third year in a row. Executives said the German economy was “starting to turn a corner” with lower fuel costs also figuring.

Group chair Roger McDowell said: “The year just ended was a one of strong operational and financial performance for Hargreaves. We delivered continued progress across the group, maintained financial discipline, and returned significant capital to shareholders through both dividends and share buybacks.

“With a strong balance sheet, high-quality businesses and growing opportunities in infrastructure-related markets for our Services division, we enter the new financial year well positioned to deliver further growth and long-term value for all stakeholders.”

The 2026 results are the last before longstanding CEO Gordon Banham steps down at the end of July. He will take up a new role managing the group’s investment in its German joint venture and overseeing the development of the zinc recycling plant in Duisburg.

Mr Banham has been instrumental in transforming Hargreaves from a coal-based company into the diversified industrial services group it is today. He was thanked by Mr McDowell, who said the board will miss his “vision, commitment and entrepreneurial flair”. Mr Banham will be succeeded as CEO by Simon Hicks, who joined the group in May 2025 as chief operating officer.

Looking ahead, Hargreaves investors were told the Services business enters the new financial year with a strong order book and excellent visibility of future revenues across key markets such as infrastructure, clean energy and environmental services. Hargreaves Land is also expected to realise further value from its portfolio.

Six Flags Great Adventure is aiming to rewrite the roller coaster record books with a towering new attraction designed to send riders rocketing skyward, spinning and launching upside down in a ride unlike anything built before.

The New Jersey theme park unveiled plans Tuesday for Bakunawa, a new roller coaster inspired by a legendary sea serpent from Philippine folklore. When it opens in 2027, the ride is expected to break six world records while becoming one of the tallest roller coasters in the world.

Bakunawa will stand 382 feet tall and reach speeds of up to 100 mph along a 3,163-foot track. Riders will blast through three launches, including what Six Flags says will be the world’s first upside-down launch, aboard free-spinning, floorless trains that rotate throughout the ride, making each trip slightly different.

SIX FLAGS GUESTS STRANDED 245 FEET IN AIR AFTER POWER OUTAGE FORCES COASTER EVACUATION

Six Flags Great Adventure unveiled its newest world record-breaking roller coaster, Bakunawa, on Tuesday, July 28, 2026. (Six Flags Great Adventure / Unknown)

“You’re going to climb 90 degrees straight up to the top of the 382-foot-tall tower, reaching the top and kind of sliding around the outside, which looks terrifying and amazing at the same time, before losing speed,” said Mike Fehnel, park president for Six Flags Great Adventure, according to USA Today. “And then you get to do it all again in reverse.”

According to the park, Bakunawa will become the world’s fastest and tallest spinning coaster. It also is expected to set records for the fastest inversion, longest stall inversion, first floorless spinning coaster and first upside-down launch.

Riders will climb to the top of the coaster’s towering spire before briefly pausing and then plunging back toward Earth. (USA TODAY Network via Reuters Connect / Reuters Photos)

The ride takes its name from Bakunawa, a mythical serpent said to rise from the sea and devour the moon. Riders will climb to the top of the coaster’s towering spire before briefly pausing — facing the sky, the ground or somewhere in between depending on the train’s rotation — and then plunging back toward Earth.

The seats for Six Flags Great Adventure’s new record-breaking roller coaster, Bakunawa, were unveiled on Tuesday, July 28, 2026. (USA TODAY Network via Reuters Connect / Reuters Photos)

THRILL SEEKERS FACE HISTORIC 100-FOOT DROP ON AMUSEMENT PARK’S NEWEST WATER RIDE

Bakunawa will be the centerpiece of a revamped Boardwalk area at Six Flags Great Adventure, although the park has not announced a specific opening date or shared additional details about the renovation.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The coaster will use two trains carrying 20 riders each, with a minimum height requirement of 48 inches. Each ride will last about two minutes and 17 seconds.

The most striking shift has been Oman’s emergence as a key trade partner. Ranked only 30th among India’s import sources in April-May 2025, the Gulf nation has jumped to 10th place in the first two months of the current financial year. Imports from Oman surged 3.8 times to $3.4 billion, largely driven by energy shipments.

The changes extend far beyond the Gulf. The UAE slipped to fourth place among India’s import partners, while Russia reclaimed the second spot, followed by the US. India’s search for alternative LPG supplies helped lift imports from the US, while purchases from Brazil rose 2.8 times to $2.7 billion. Imports from Peru climbed 3.7 times to more than $2 billion, making it India’s 20th-largest import source compared with 35th a year earlier.

Export patterns have also undergone a significant shift. Singapore overtook China and the Netherlands to become India’s third-largest export destination during April-May, trailing second-ranked UAE by just $180 million. Tanzania emerged as the eighth-largest destination for Indian exports, up from 25th place a year ago, while South Africa climbed to 10th.

Live Events

According to Commerce Secretary Rajesh Agrawal, exports of oil products and gems and jewellery have driven Tanzania’s rise, with shipments increasing from $800 million in April-May last year to $2.2 billion this year. Exports to Sri Lanka nearly tripled to $1.8 billion, lifting the island nation to 12th place among India’s export markets.
Singapore’s rise has been fuelled largely by a 2.2-fold increase in imports of Indian petroleum products, with exports touching $5.1 billion. The island nation has been among the economies most affected by disruptions caused by the conflict in West Asia, helping it edge past China despite a more than 25% increase in Indian exports to the world’s second-largest economy.
The disruption of shipping routes through the Strait of Hormuz, the vital gateway to the Persian Gulf, has elevated Oman’s strategic importance. Agrawal said Oman, with which India recently operationalised a free trade agreement, has opened the ports of Sohar, Salalah and Duqm for the transit of Indian goods to destinations across the region, including the UAE.
These arrangements have helped India restore exports to West Asia to nearly last year’s levels. Imports from the region, however, remain around 18% lower due to ongoing disruptions in energy supplies.

Thailand plans to leverage the 2026 IMF and World Bank Summit to promote its culture. The government intends to utilize the world’s largest financial summit as a platform to showcase and sell Thai cultural heritage, enhancing its global image and attracting international attention.

Thailand, renowned for its rich culture and traditions, is leveraging its unique soft power to captivate the global audience. From its tantalizing cuisine to its mesmerizing arts and crafts, Thailand is successfully exporting its cultural treasures worldwide. Thai cuisine, including the famous Pad Thai and Tom Yum, has gained international acclaim, becoming a staple in global culinary scenes.

The entertainment industry also plays a pivotal role, with Thai films and dramas earning accolades at international festivals. Movies like “Bad Genius” have not only won awards but also showcased Thailand’s storytelling prowess. Moreover, traditional Thai performances, such as the intricate Khon dance, continue to fascinate audiences, promoting cultural appreciation.

Furthermore, Thailand’s alluring tourism sector, enriched with historic temples and stunning landscapes, draws millions of visitors annually. The government’s strategic promotion efforts, emphasizing sustainability and cultural heritage, amplify Thailand’s appeal. As a result, the country’s soft power initiatives are not only enhancing its global reputation but also boosting economic growth. Thailand’s cultural exports are proving that its vibrant heritage resonates with people across the world.

source

Other People are Reading