Hercules Site Services PLC's (AIM:HERC) chair, Henry Pitman, will tell the company's annual meeting later on Monday that he expects another year of strong growth driven by high investment in UK infrastructure and construction.
The company has enjoyed a solid start to the 2025, selling its Suction Excavator business in January to cut debt and boost free cash flow. The move will improve profit before tax and earnings per share, allowing Hercules to focus on its core Labour Supply business.
In 2024, Hercules exceeded market expectations, delivering 28% revenue growth and a 34% rise in adjusted EBITDA. Demand for its labour supply services hit record levels, with a 35% increase in operatives deployed.
The company completed its first acquisition, buying Future Build Recruitment to expand its presence in white-collar and permanent recruitment. It also launched the Hercules Construction Academy, training over 1,100 workers so far.
Following a successful £8 million fundraise, Hercules remains well-funded for further expansion and acquisitions in 2025.
"We expect our strong growth to continue as we convert the exciting opportunities available to us, driven by increased investment in the UK infrastructure and construction sectors," Pitman will say.