Hercules Site Services PLC (AIM:HERC) posted its best-ever interim profits and revenues in the six months to the end March, boosted by HS2 and demand for its suction excavator fleet.
First-half revenues at the civil engineering staff supplier jumped 32% to £48.8 million, underlying profits soared by 91% to £2.1 million while Hercules posted a pre-tax profit of £0.2 million (£0.2 million loss).
Brusk Korkmaz, chief executive, said the supply of skilled operatives to both the HS2 Northern Section and other infrastructure sites had risen during the period.
“In addition, we have added further new labour supply frameworks, including Costain and Hill Group, which will stand us in good stead in the years to come.
"The civil projects division has won a significant number of tenders, new clients include Trant Engineering and Curio Group, and is well on the way to achieving its targets in 2024.
Korkmaz added Hercules is also on course to meet market expectations for the full year with momentum currently strong in construction and infrastructure work.
Cash of £5.8 million was generated during the period with an unchanged interim dividend of 0.6p recommended.