Hargreaves Services (AIM:HSP) announced it has been selected by Sizewell C to design, procure, manufacture, install, test and commission three foul water treatment facilities needed for the construction of the Sizewell C nuclear power project.
The AIM-listed group, which delivers services across the environmental, infrastructure and property sectors, said the contract is expected to run for two years, starting in early 2027. The board said the award would help underpin existing revenue and profit forecasts for the years ending 31 May 2027 and 31 May 2028, based on the contract's planned phasing.
Hargreaves noted that consensus market expectations ahead of this announcement stood at revenue of £292.1m and underlying pre-tax profit of £17.9m for the 2027 financial year, and revenue of £305.2m and underlying pre-tax profit of £18.6m for 2028.
The win follows a year in which Hargreaves grew revenue 32.9% to £351.4m and underlying pre-tax profit 93.2% to £34m for the year ended 31 May, with its Services unit already carrying more than 75 term and framework contracts giving visibility over 70% of next year's expected revenue.
"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," said chief executive Simon Hicks.
Jon Loveday, Sizewell C's Chief Commercial Officer, said the project's UK spend has now reached around £5bn, with more than a thousand UK suppliers having benefited from work on it.
The contract is expected to contribute revenue across FY27 and FY28, adding to the Group's medium-term order book.