Hercules Site Services, a company listed on AIM and focused on technology-driven labour supply for the UK infrastructure sector, is poised for another successful year. After a recent fundraising round, the company now has the financial capability to consider acquisitions, enhancing its market position.
In a trading update for the year ending 30 September 2024, Hercules announced that its revenue, adjusted EBITDA, and pre-tax profit for the financial year are significantly ahead of expectations. Revenue is projected to exceed £105 million, reflecting a growth of around 24% compared to £84.7 million in 2023.
Chief Executive Brusk Korkmaz expressed his satisfaction with the company’s performance, highlighting the team’s success in surpassing market forecasts and achieving record results. He credited this to their ability to capitalise on new labour supply market opportunities and the launch of the Hercules Construction Academy. Korkmaz also acknowledged the role of mergers and acquisitions in driving their growth.
Looking ahead to FY25, Korkmaz indicated that the business has a promising outlook. With a successful £8 million fundraising completed, Hercules is well-positioned to pursue acquisitions of labour supply companies within the infrastructure sector, an area that continues to receive strong government support.
Korkmaz concluded by expressing anticipation for the company’s full-year results, which are expected to be shared in mid-January 2025, alongside updates on any significant developments.
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.
