Hercules Site Services PLC (AIM:HERC), a leading labour supplier in the UK infrastructure sector, continues to trade in line with expectations in the 2024 financial year.
In an interim trading update, the group reiterated revenue expectations exceeding £47 million for the six months to 31 March. This represents an increase of around 27% year on year.
A number of new contracts, including over £5 million in civil projects and a new framework agreement with Costain, contributed to this revenue growth, while the acquisition of Future Build Recruitment has increased cross-selling and upselling opportunities from existing clients.
Chief executive Brusk Korkmaz said: "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."
Korkmaz highlighted Hercules’ opening of the Hercules Construction Academy in January amid a skills shortage in the UK.
The academy “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”, he said.
Audited interim results are due on 3 June.