Hercules Site Services, a Cirencester-based company specialising in technology-enabled labour supply for the UK’s infrastructure and construction sector, has reported a highly positive start to the year. In their unaudited interim results for the six months ending 31 March 2024, the company recorded a revenue of £48.8 million, an increase from £37 million in the same period last year. Pre-tax profits reached £200,000, a significant improvement compared to the previous year’s loss of £200,000.
Chief Executive Brusk Korkmaz commented on the encouraging start, noting a 32 per cent growth in revenue and a 21 per cent rise in gross profit over H1 2023. Additionally, EBITDA grew to £2.1 million in H1 2024 from £1.1 million in H1 2023, alongside the completion of their first acquisition as part of their growth strategy.
Korkmaz attributed this success to the exceptional management team and their drive to exceed expectations. The supply of skilled operatives to HS2 Northern Section and other infrastructure sites has increased, and new labour supply frameworks with Costain and Hill Group have been established, positioning the company well for future growth.
The civil projects division also made significant strides, securing numerous tenders and new clients such as Trant Engineering and Curio Group, and is on track to meet its 2024 targets. Korkmaz expressed confidence in meeting market expectations for the full year, bolstered by the continued strong momentum in the construction and infrastructure sectors.
Hercules Site Services plc (LON:HERC) is a collaborative, innovative company delivering services of the highest standards within the Civil Engineering sector of the construction industry. Hercules Construction Academy provides a comprehensive range of courses designed to equip individuals with the essential skills and knowledge required for a long and successful career in the construction industry.
