Hercules Site Services PLC (AIM:HERC), which provides manpower for infrastructure projects such as HS2, revealed its annual revenues have surpassed pre-pandemic levels.
Turnover was up 42% year-on-year for the 12 months ended 30 September 2021, and was £2mln ahead of the 2019 figure.
Adjusted EBITDA grew by £1mln, or 70% to £2.4mln, while the newly listed group declared a maiden dividend of 1.7p a share.
Chief executive Brusk Korkmaz said Hercules had made a “fantastic start” to the current financial year “with trading in line with our expectations and exciting growth initiatives already underway”.
The company said the award of a contract to supply labour to the next phase of HS2 was expected to provide a step-change in growth over the next six years.
Hercules is in an ideal position to benefit from a National Infrastructure and Construction Pipeline that stands at £650bn over the next 10 years.
Of that, £200bn will be invested by 2024/25, supporting 425,000 new jobs.
Projects such as HS2, upgrades to other parts of the struggling rail infrastructure and strategic roads upgrades will require an estimated 217,000 additional skilled construction workers in the period to 2025.
The company’s February IPO, which brought in a gross £4mln, will help the company to take advantage of the larger opportunities that come its way.