Hercules Site Services is fast becoming one of the standout performers in UK infrastructure, with its latest financial year marking a string of record-breaking achievements and bold strategic plays. From rapid revenue growth to headline-grabbing acquisitions, the company is making a clear statement: it’s geared for sustained, ambitious expansion.
Hercules Site Services has delivered a financial performance that surpassed market expectations in the year ending 30 September 2024, with non-executive chairman Henry Pitman highlighting an impressive 48 percent average annual revenue growth since listing. This momentum is underpinned by surging demand for the company’s labour supply services and a tightly executed strategic roadmap.
Central to this success has been the company’s core Labour Supply division, which saw unprecedented levels of delivery. The average number of operatives deployed rose by 35 percent, enabling Hercules to support over 40 clients across 300 project locations. This operational strength translated into a 28 percent revenue increase and a 34 percent uplift in adjusted EBITDA, achievements made all the more notable given the broader economic pressures affecting UK businesses.
A significant milestone for FY24 was Hercules’ first acquisition—Future Build Recruitment—marking a strategic expansion into white-collar and permanent recruitment, further strengthening its position across the construction sector and diversifying its capabilities beyond its blue-collar infrastructure origins.
Adding to the company’s momentum, January 2024 saw the successful launch of the Hercules Construction Academy, which has already trained over 1,100 individuals and begun contributing revenue. This initiative not only addresses skills gaps in the industry but also enhances Hercules’ long-term value proposition.
September’s £8 million fundraise fortified Hercules’ balance sheet and positioned it to seize new growth avenues. The capital raise brought on board two influential entrepreneurs: Ged Mason, with deep recruitment sector experience, and Martin Tedham, known for scaling high-growth businesses. Tedham now also serves as a non-executive director. Investment manager Janus Henderson also joined the shareholder base, adding further institutional strength.
FY25 has started on a strong footing. The company has streamlined operations by divesting its Suction Excavator business, a move that immediately reduced debt and lease liabilities while freeing up capital. This disposal is expected to improve profit before tax and enhance earnings per share, reinforcing the company’s sharpened focus on its core Labour Supply operations.
Looking ahead, Hercules is well-positioned to capitalise on the UK’s infrastructure and construction investment cycle. With a track record of exceeding expectations, strong financial backing, and a growing service portfolio, the company is set to build on its momentum in the year ahead.
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.
