Hercules Site Services PLC (AIM:HERC) CEO Brusk Korkmaz and chief financial officer Paul Wheatcroft joined Steve Darling from Proactive with details of a trading update for the six months ended March 31, 2024.
The company is on track with market expectations for the full year to September 30, 2024, with revenue expected to surpass £47 million for the first half, marking a notable 27% increase compared to the same period in 2023. This growth, across all income streams, is attributed to substantial demand in the infrastructure sector.
Korkmaz highlighted several key developments, including securing new contracts totalling over £5 million in civil projects and signing a significant framework agreement with Costain. The integration of Future Build Recruitment, acquired in December 2023, is progressing smoothly, yielding cross-selling and upselling opportunities with existing clients.
Moreover, Hercules Construction Academy, launched in January 2024 in the West Midlands, has swiftly gained recognition for delivering top-tier training and upskilling programs for industry workers. This strategic foothold in the heart of England positions the company to address the ongoing skills shortage in the UK effectively.