Hercules Site Services expects to build further in 2025 after “another record year” saw revenues break \u00a3100m.<\/p>\n
The labour supply and construction services group “exceeded the market’s expectations” with a 26% jump in sales in the year to September.<\/p>\n
Chief executive Brusk Korkmaz said: “Our confidence for FY 2025 is fuelled by a strong pipeline and a positive start to trading in Q1. We anticipate further organic growth across our continuing operations, while our recent equity raise of \u00a38m provides us with a strong balance sheet with which to fund our ongoing, targeted M&A strategy.<\/p>\n
“Add to this the fact that the outlook for the infrastructure sector remains buoyant and we are positive that we are well positioned for the year ahead.”<\/p>\n
The Cirencester-based business is planning to sell off its Suction Excavator division – which accounted for 5% of its income – and is now treating that part of the business as discontinued operations.<\/p>\n
Its continuing operations saw a 43% increase in adjusted pre-tax profits, to \u00a32.6m, although the Suction Excavators business recorded a loss of \u00a31.3m.<\/p>\n
Korkmaz added: “We have yet again exceeded the market’s expectations and achieved another record year, delivering growth across all our core performance metrics.<\/p>\n
“In doing so, our revenue growth for the last three years since listing has averaged 48% (CAGR), a performance of which we are incredibly proud.<\/p>\n
“Cross-selling has continued to be a strong feature, and we have broadened our ability to maintain this trend having delivered our first acquisition during the year. This has provided us with a solid footing in the white-collar and permanent recruitment market, complementing our blue-collar labour supply services.<\/p>\n","protected":false},"excerpt":{"rendered":"
Momentum is expected to be maintained after ‘exceeding market expectations’<\/p>\n","protected":false},"author":18,"featured_media":4089,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[120781,9],"coauthors":[81],"class_list":["post-18405","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-markets","category-property","tag-gloucestershire","tag-top-story"],"yoast_head":"\n