At 37.89p, Hercules PLC (LSE:HERC) shares were up around 9.8% after its AIM suspension was lifted today following the publication of delayed audited results showing record revenue and underlying earnings, alongside a qualified audit opinion linked to historical supplier controls.
Hercules, the infrastructure and construction services group, reported that revenue for the year to 30 September 2025 rose 19%, to £121.2 million, which the company said was ahead of expectations, while underlying earnings (EBITDA) increased 34% to £6.4 million, whilst underlying pre-tax profit rose to £4.0 million from £2.6 million.
Statutory profit before tax from continuing operations fell to £0.9 million from £2.2 million, reflecting amortisation of acquisition-related intangibles, share-based charges, exceptional acquisition-related items, IT system implementation costs and business development expenditure.
The company noted the annual report contains a qualified audit opinion relating to historical matters involving a limited number of training and consultancy suppliers. The company said it had cooperated with the review process and strengthened internal controls and procedures.
In a first-half trading update, meanwhile, Hercules reported unaudited revenue of £59.2 million for the six months to 31 March 2026, up from £54.6 million a year earlier.
The company said its civil projects division benefited from expenditure linked to the AMP8 water investment cycle, while labour supply was affected by delays to some key infrastructure projects.
Chief executive Brusk Korkmaz said the group had “significantly expanded” its operational capabilities and had invested in IT systems and new expertise, adding that acquisitions had given Hercules a stronger platform in power and energy infrastructure.