Hercules continues to deliver stellar results, cementing its position as a rising star in the infrastructure support sector. With a remarkable revenue growth of 28 per cent for the year ended 30 September 2024, the company is not only exceeding market expectations but also streamlining its operations for sustained success.
Hercules posted a revenue of £107 million, up from £84.7 million the year prior, and achieved a gross profit of £17.4 million, showcasing its robust business model. These results follow the strategic decision to divest its suction excavator business to reduce debt and improve cash flow—a move indicative of the company’s commitment to operational efficiency and financial health.
CEO Brusk Korkmaz expressed pride in the company’s consistent outperformance, highlighting an impressive average annual revenue growth of 48 per cent since its listing three years ago. Hercules’ labour supply and civil projects business also reported a significant 43 per cent increase in adjusted pre-tax profit, alongside a boost in cash reserves to £7.5 million from £3.3 million in FY2023.
A key driver of this growth has been Hercules’ focus on cross-selling opportunities and its strategic acquisition of Future Build. This acquisition has expanded the company’s footprint into white-collar and permanent recruitment markets, perfectly complementing its established blue-collar labour supply services. This diversification positions Hercules as a comprehensive provider in the labour market, catering to both high-volume and specialised workforce needs.
To support its ambitious growth strategy, Hercules secured £8 million in private equity funding, bolstering its balance sheet to pursue targeted acquisitions and capitalise on new opportunities within the infrastructure sector. Looking ahead, the company’s strong Q1 trading performance and promising project pipeline for FY2025 reflect its readiness to capture further organic growth and expand its market share.
The infrastructure sector’s optimistic outlook provides fertile ground for Hercules, which has already demonstrated its ability to deliver on landmark projects, including significant contributions to HS2. With a record demand for its labour supply services, delivering for over 40 clients and 300 projects in the past year, Hercules is well-positioned to maintain its upward trajectory.
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.
