Hercules Site Services, a technology-driven labour supply leader in the UK infrastructure and construction sector, has unveiled a stellar set of results for the financial year ending 30 September 2024. With remarkable revenue growth, strategic acquisitions, and a solid pipeline for the future, the company continues to strengthen its position as a key player in the market.
The South Cerney-based company reported an exceptional year, with growth exceeding market expectations across its labour supply and civil projects divisions. Revenue surged by 28%, while adjusted EBITDA climbed 34%, and adjusted pre-tax profit soared by 43%. These figures underscore Hercules’ ability to execute its ambitious growth strategy while meeting the increasing demand for its services.
Hercules capitalised on the buoyancy of the infrastructure sector by raising £8 million in equity to fuel its organic growth initiatives and pursue strategic acquisitions. The company’s acquisition of Future Build broadened its capabilities by adding white-collar and permanent recruitment services to its established blue-collar labour supply portfolio. This expansion not only diversifies the business but also strengthens its ability to meet the evolving needs of clients across the UK.
In 2024, Hercules supplied labour resources to over 40 clients at more than 300 project locations, achieving record demand. The average number of operatives deployed rose by 35%, reaching 1,150, compared to 850 in 2023. Notably, labour supply to the HS2 Birmingham section grew significantly, increasing from around 425 operatives in September 2023 to approximately 630 by September 2024. This growth highlights Hercules’ pivotal role in delivering on high-profile infrastructure projects.
Chief Executive Officer Brusk Korkmaz attributed the company’s success to a robust operational model and effective cross-selling efforts, which have driven a compound annual revenue growth rate of 48% over the last three years since listing. The acquisition of Future Build has enhanced Hercules’ ability to expand into complementary markets, laying the groundwork for sustained growth in both blue- and white-collar recruitment.
Looking ahead to 2025, Hercules anticipates further organic growth, supported by a strong project pipeline and a positive start to the year. The recently raised equity funds will provide the company with financial flexibility to execute its targeted mergers and acquisitions strategy. With the infrastructure sector’s outlook remaining positive, Hercules is well-positioned to capitalise on emerging opportunities and continue delivering value to its stakeholders.
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.
