Hercules Site Services PLC (AIM:HERC) told investors that it expects to see ‘forward momentum in an area of strength’, as some £96 billion is due to be invested into Britain’s water networks in the coming years.
The infrastructure and labour supply company, in a trading update, said it continues to be positioned for growth, aligned with the new government's plans.
"Water regulator Ofwat has in the past week cleared the way for a £96bn infrastructure spending programme across the country for AMP8. This investment will drive forward momentum in an area of strength for Hercules for the next five years and beyond,” chief executive Brusk Korkmaz said.
For example, on its books currently, Hercules has £5.56 million worth of business with Thames Water across nine sites and £2.33 million of business contracted with Anglian Water. It also recently joined a framework related to biomethane and ‘gas-to-grid’ projects tied to water utilities.
Elsewhere, the company said its labour supply business continues to thrive.
It was recently awarded a place on the Hill Group PSL to provide operatives for the construction industry.
This marks the first cross-selling opportunity secured through Future Build, a recent acquisition in the white-collar recruitment sector.
Additionally, Hercules has begun supplying labour to the Sizewell C nuclear project in Suffolk and expanded its office footprint with a satellite office in Saxmundham, Suffolk.
It also won a place on Balfour Beatty Kilpatrick's contingent labour framework for mechanical and electrical roles, further strengthening its long-term client relationship with the builder.
In its training business, the Hercules Construction Academy has been approved as a training provider for Gen2 and City & Guilds, delivering Construction Skills Bootcamps across England.
The initiative aims to upskill individuals and support construction and infrastructure projects.
The academy, launched in January 2024, has also secured funding from North Warwickshire Borough Council to support upskilling programs for unemployed individuals and those not in employment, education, or training (NEET).
“[The academy] will act to bolster Hercules' commitment to tackling the well-publicised national skills shortage,” Brusk Korkmaz added.