REG - Hercules Site Svcs - Trading Statement

Hercules Site ServicesAnnouncement

09/10/2024 07:00

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RNS Number : 4391H  Hercules Site Services PLC  09 October 2024

9 October 2024

Hercules Site Services plc

 

("Hercules" or the "Company")

 

Trading Update FY24

 

Hercules Site Services plc (AIM: HERC), a leading technology enabled labour
supply company for the UK infrastructure and construction sectors, is
pleased to provide a trading update for the year ended 30 September 2024
("FY24").

 

The Company expects another record year, with Hercules' revenue, adjusted
EBITDA and Profit Before Tax (PBT) for FY24 to be well ahead of market
expectations*. Revenue is expected to be over £105m, representing an
increase of c. 24% on the prior year ended 30 September 2023 (£84.7m).

 

Each of Hercules' core divisions has delivered increased organic revenues,
underpinned by the Company's ability to capitalise on continued growth in the
infrastructure and construction sectors. Most recently, Hercules has secured
£8m of new investment via a placing and subscription, strengthening its
balance sheet to position it to take advantage of the many opportunities in
the UK infrastructure and construction sectors in order to grow both
organically and via selective acquisitions.

 

 

Brusk Korkmaz, Chief Executive Officer, commented:

 

"We are thrilled to have delivered growth well ahead of the market's
expectations for the year, once again reaching new record highs and adding to
our proven track record of achieving significant year on year growth. This is
testament to the team's ability to successfully seize exciting organic growth
opportunities, such as our entry into new labour supply markets and the highly
acclaimed launch of the Hercules Construction Academy, and to execute on the
opportunities presented through our recent M&A.

 

"We have a lot to look forward to in FY25. With a successful £8 million
fundraise under our belt, we have the funds available to potentially acquire
selected labour supply companies in the infrastructure sector, which is
well-supported by the new government. We look forward to providing our full
year results in mid-January 2025, and to updating the market on material
updates in due course."

 

*Market consensus - (revenue of £95.1m, adjusted EBITDA of £4.5m, and PBT
of £0.6m).

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 which has been incorporated into UK law by the European
Union (Withdrawal) Act 2018.

 

For further information and enquiries, please contact:

 

 Hercules Site Services plc                                                            c/o SEC Newgate

 Brusk Korkmaz (CEO)

 Paul Wheatcroft (CFO)

 SP Angel (Nominated Adviser and Joint Broker)                                    +44 (0) 20 3470 0470

 Matthew Johnson / Adam Cowl / Charlie Bouverat (Corporate Finance)

 Grant Barker / Rob Rees (Sales and Broking)

 Cavendish Capital Markets Limited (Joint Broker)                                 +44 (0) 20 7397 8900

 Adrian Hadden / Charlie Combe / George Budd (Sales and Broking)

 SEC Newgate (Financial Communications)                                          +44 (0) 20 3757 6882

 Elisabeth Cowell / Ian Silvera / Matthew Elliott                     Hercules@secnewgate.co.uk

 

 

 

 

 

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