Hercules Site Services' growth in 2023 was all organic says broker Cavendish and achieved across all the business areas (Labour Supply, Specialist Plant Services and Civil Projects).
Revenue growth should be strong in the current year as well, said the house, as labour shortages and significant planned spending in UK infrastructure boosts demand.
In this environment, Hercules’ digital tools that place operatives are of increasing value to major contractors.
Hercules offers a one-stop shop service to contractors within the UK infrastructure sector, with cross-selling between services a key feature in creating strong relationships with clients.
Cavendish’s share price target remains unchanged at 55p, with the broker adding it is building a substantial, tech-enabled services provider to the UK construction industry.
Shares rose 4% to 25.25p.