{"id":18291,"date":"2025-01-06T07:43:25","date_gmt":"2025-01-06T07:43:25","guid":{"rendered":"https:\/\/www.thebusinessdesk.com\/south-west\/?p=18291"},"modified":"2025-01-06T07:44:05","modified_gmt":"2025-01-06T07:44:05","slug":"hercules-site-services-to-sell-off-excavator-business","status":"publish","type":"post","link":"https:\/\/www.thebusinessdesk.com\/south-west\/news\/18291-hercules-site-services-to-sell-off-excavator-business","title":{"rendered":"Hercules Site Services to sell off excavator business"},"content":{"rendered":"

Construction group Hercules Site Services is planning to sell its Suction Excavator business, which will “materially reduce” its debt levels.<\/p>\n

The Suction Excavator business amounted to less than 5% of the group’s revenue, but 88% of its consolidated debt, excluding invoice discounting.<\/p>\n

It is now a non-core activity, the AIM-listed group said, and the planned divestment will enable it “to dedicate greater resources to deliver on its strategy to capitalise on the continued high-growth opportunities available to Hercules’ core Labour Supply business”.<\/p>\n

Although its share price has dipped since its year-highs in September, it has still gained 70% in the past 12 months, recovering around half of the losses seen in 2023.<\/p>\n

Hercules Site Services will publish its 2024 financial results next Monday, which are expected to show revenue up by around one-quarter, to more than \u00a3105m<\/a>.<\/p>\n

The sale of Suction Excavators, when completed, is expected to contribute to higher profit before tax, improved earnings per share, and enhanced returns for shareholders in the near future.<\/p>\n","protected":false},"excerpt":{"rendered":"

Move would ‘materially reduce’ construction group’s debt levels<\/p>\n","protected":false},"author":18,"featured_media":4089,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120781],"coauthors":[81],"class_list":["post-18291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","tag-featured-story","tag-gloucestershire","tag-top-story"],"yoast_head":"\nHercules Site Services to sell off excavator business - South West<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.thebusinessdesk.com\/south-west\/news\/18291-hercules-site-services-to-sell-off-excavator-business\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hercules Site Services to sell off excavator business - 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