Hargreaves Services Secures 15-Year UK Deposit Return Scheme Contract
Hargreaves Services will collect and transport returned beverage containers in Scotland for Re.Group under a 15-year contract. The deal includes CPI-linked indexation and fuel cost adjustments; management expects a positive performance impact in FY28 and FY29 revenue and profit before tax above current market expectations.
Hargreaves Services plc has completed a logistics agreement with Australian recycling and resource recovery company Re.Group to support Scotland’s UK Deposit Return Scheme (DRS). The contract runs for 15 years. Hargreaves will collect returned beverage containers from retail locations and transport them to designated processing facilities. The agreement provides for annual CPI-linked indexation and fuel-cost adjustments.
Management expects the contract to contribute positively to performance in FY28, with revenue and profit before tax forecast to exceed current market expectations for FY29.