Trading Update

Hercules Site Services PLC

13 May 2024

 

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:

Hercules Site Services plc Brusk Korkmaz (CEO) Paul Wheatcroft (CFO)	c/o SEC Newgate
SP Angel (Nominated Adviser and Broker) Matthew Johnson / Adam Cowl (Corporate Finance) Grant Barker / Rob Rees (Sales and Broking)	[phone]
Cavendish Securities plc (Joint Broker) Adrian Hadden / Charlie Combe / Dale Bellis (Sales and Broking)	[phone]
SEC Newgate (Financial Communications) Elisabeth Cowell / Ian Silvera / Matthew Elliott	[phone] [e-mail]

 

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