Hercules has posted record results for the first half of this year driven by expansion of its workforce on HS2.
The AIM-listed labour supplier saw revenues rise 18% to £55m, with its core labour division up 31% year-on-year.
This was driven largely by surging demand on the northern section of HS2 Phase One where its now has 630 operatives deployed on-site (May 2024: 550).
Adjusted pre-tax profit rose 55% to £1.7m. The firm ended the half with £9.8m in the bank, helped by the sale of its Suction Excavator arm, which cut debt and lease liabilities by £9m.
In anticipation of extensive works at Sizewell C, Hercules has established a regional office in Saxmundham, near Ipswich, to support delivery.
It also has strengthened its training pipeline with the recent acquisition of Quality Transport Training to expand the Hercules Academy.
Brusk Korkmaz, chief executive officer, said: “With solid operational momentum, a healthy pipeline, and a positive outlook across the infrastructure sector, we remain confident in meeting market expectations for the full year.”
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