Hercules Site Services PLC (AIM:HERC) has announced that it surpassed market expectations in 2023, with over 70% revenue growth and a nearly 80% increase in adjusted earnings.
In an AGM statement, Hercules touted the recent acquisition of Future Build Recruitment Limited as an expansion into white-collar and permanent recruitment within construction, boosting early growth in 2024.
This acquisition is “expected to drive additional revenues”, stated non-executive chairman Henry Pitman.
Pitman remarked: "I am proud to be speaking to you today following another year where we have delivered growth across all areas of the Hercules business, exceeding market expectations for 2023.
"Reiterating what we said in our full-year results, the UK has been living with high inflation and interest rates for a good period of time now, but pleasingly the infrastructure sector is still forging ahead.
“Access to labour continues to be a core priority for the sector and we have built an excellent reputation as a tier 1 provider due to our technological edge and experienced management team.”
Hercules expects to announce its interim results for the six months ending 31 March 2024 in the week commencing 3 June.