13 May 2024
Hercules Site Services plc
("Hercules" or "the
Company")
Trading Update
Hercules Site Services plc (AIM: HERC), a leading
technology enabled labour supply company for the UK infrastructure
sector, is pleased to provide a trading update for the six
months ended 31 March 2024, based on unaudited management accounts
for the period.
The Company is trading in line with market
expectations for the full year to 30 September 2024, with revenue
expected to be over £47 million for the first six months. This
represents an increase of c. 27% on the six months to 31 March 2023
(£37.0m). All income streams grew, each with their own individual
drivers, underpinned by the substantial demand in the
infrastructure sector.
Hercules will publish its Interim Results on 3
June 2024. On the same day, CEO Brusk Korkmaz and CFO Paul
Wheatcroft will deliver a live presentation regarding the Company's
Interim Results via the Investor Meet Company platform at 14:00
(BST). Further details can be found below.
Brusk Korkmaz, Chief
Executive Officer, commented:
"We have delivered further revenue growth in the
first half of this financial year and gained a number of new
contracts, including over £5m in civil projects and signed a
significant new framework agreement with Costain. The integration
of Future Build Recruitment following our acquisition of the
business in December 2023 is progressing well and we are already
seeing cross-selling and upselling opportunities from our existing
clients.
"As the UK continues to face a skills shortage, the
Hercules Construction Academy successfully opened in January 2024
and is already developing a reputation for delivering first class
training and the upskilling of workers across the industry. The
site, based in the West Midlands, also gives us a strategic
foothold in the heart of England.
"We are trading in line with expectations and, with
continuing strong momentum in the infrastructure sector including
highways, energy and water, we look forward to the rest of this
financial year with confidence."
Investor Meet
Company Webinar
The presentation at 14:00 BST on 3 June 2024 is
open to all existing and potential shareholders. Questions can be
submitted pre-event via your Investor Meet Company dashboard up
until 2 June 2024, 09:00 BST, or at any time during the live
presentation.
Although the Company may not be in a position
to answer every question it receives, it will address the most
prominent within the confines of information already disclosed to
the market. Responses to the Q&A from the live presentation
will be published at the earliest opportunity on the Investor Meet
Company platform.
Investor feedback can also be
submitted directly to management post-event to ensure the Company
can understand the views of all interested parties.
Investors can sign up to Investor
Meet Company for free and add to meet Hercules Site Services plc
via:
https://www.investormeetcompany.com/hercules-site-services-plc/register-investor
Investors who already follow
Hercules Site Services plc on the Investor Meet Company platform
will automatically be invited.
For
further information and enquiries, please
contact:
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Hercules Site
Services plc
Brusk Korkmaz (CEO)
Paul Wheatcroft (CFO)
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c/o SEC Newgate
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SP Angel
(Nominated Adviser and Broker)
Matthew Johnson / Adam Cowl (Corporate
Finance)
Grant Barker / Rob Rees (Sales and
Broking)
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+44 (0) 20 3470 0470
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Cavendish
Securities plc (Joint Broker)
Adrian Hadden / Charlie Combe / Dale Bellis
(Sales and Broking)
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+44 (0) 20 7397 8900
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SEC Newgate
(Financial Communications)
Elisabeth Cowell / Ian Silvera / Matthew
Elliott
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+44 (0) 20 3757 6882
Hercules@secnewgate.co.uk
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