Hargreaves Services PLC (LON:HSP) has said the company expects to report results in line with expectations, with net debt higher than expected.

In a trading update, the AIM-listed firm said that trading has been satisfactory.

READ: Hargreaves Services sees profits drop, but hikes dividend and stays upbeat on second half

The company added that net debt is likely to be £30mln which is higher than expected due to the delay in the sale of a legacy land asset. The firm added that contracts for sale have now been exchanged.

Hargreaves Services said it has now entered into exclusive negotiations with one party to acquire Brockwell Energy Limited, with completion expected to occur within the next few months. 

The Group expects to report its preliminary results for the year ended 31 May 2018 on 1 August 2018.