Herculean effort for Cirencester labour supply company as revenues increase 42 per cent
Hercules Site Services plc, the Cirencester-based labour supply company for the UK infrastructure sector, which floated on the London Stock Exchange’s junior AIM in February, raising £4 million, has seen revenue increased year-on-year by 42 per cent to £19.9 million.
Gross profit increased by 62 per cent to £4 million
Brusk Korkmaz, Chief Executive Officer, said: "2022 has so far been a year of positive change for Hercules. As a trusted provider of services to the construction and infrastructure sectors, our Company is well positioned to take advantage of the highly favourable market conditions in these industries. We are already executing on the exciting opportunities available to us and H1 2022 has seen us investing for growth, positioning Hercules to create value for all our stakeholders in the months and years ahead.
"We expect to deliver continued growth in H2 2022 through the ramp up of operatives on HS2, the delivery and monetisation of seven more suction excavators, and maintaining the significant momentum built up by the civil projects team.
"We intend to pay an interim dividend for the six months ended 31 March 2022 in August 2022 and I would like to thank our shareholders very much for their support during this exciting time in the Company's growth journey. We look forward to updating the market over the coming months."