Construction recruiter builds results that are ‘well ahead’ of expectations

Specialist recruiter Hercules Site Services has revealed its results will be “well ahead” of expectations after reaching the end of “another record year”.

The Gloucestershire-based company has said revenue will be up by around one-quarter, to more than £105m – which will be £10m higher than market forecasts.

It also confirmed this will positively impact its bottom line, with adjusted EBITDA and pre-tax profits also significantly ahead.

Hercules, which supplies workers to the UK infrastructure and construction sectors, will publish its full financial figures for the year to September in January.

Brusk Korkmaz, chief executive of AIM-listed Hercules, said: “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.”

Hercules recently raised £8m, which provides the funds to acquire other infrastructure recruitment specialists.