Hercules Site Services: Strong 2024 performance, exceeding expectations and over £100M revenue

Proactive - Interviews for investors

Hercules Site Services PLC (AIM:HERC) CEO Brusk Korkmaz and chief financial officer Paul Wheatcroft talked with Proactive's Stephen Gunnion about the company's record performance in 2024. Korkmaz highlighted that Hercules surpassed market expectations with over £100 million in revenue, driven by growth in its labour supply and civil projects divisions. He emphasised the importance of cross-selling between divisions, which contributed significantly to their success. The company recently divested its suction excavator business to focus on increasing cash flow, profit before tax, and earnings per share, aiming to deliver more value to shareholders. Hercules also saw revenue boosts from its acquisition of Future Build Recruitment and the establishment of the Hercules Construction Academy. Wheatcroft outlined impressive financial growth, with a 28% increase in revenue from continuing operations, bringing it to £102 million. He noted a remarkable 34% rise in adjusted EBITDA and a 43% boost in pretax profit. The year also saw strong cash generation and effective credit management, positioning the company for further expansion. Looking ahead, Korkmaz said the company is focused on leveraging growth opportunities in the labour supply sector and capitalising on infrastructure investments. He expressed confidence in delivering another year of exceeding expectations while continuing Hercules’ consistent growth trajectory. Visit Proactive's YouTube channel for more videos, and don’t forget to like this video, subscribe to the channel, and enable notifications for updates on exciting company developments. #HerculesSiteServices #2024FinancialResults #ConstructionGrowth #LabourSupply #InfrastructureInvestment #BusinessPerformance #DivestmentStrategy #FinancialSuccess #UKConstruction #CompanyNews