Hercules Site Services PLC CEO Brusk Korkmaz and CFO Paul Wheatcroft talked with Proactive's Stephen Gunnion about the company's latest strategic move—the sale of its Suction Excavator business. Korkmaz described the deal as "transformational," noting that while the division accounted for less than 5% of group revenue, it represented 88% of consolidated debt. The sale to SNC Holdings for £2.4 million significantly reduces debt and strengthens the company's financial position.
Wheatcroft explained that this move improves cash flow and enhances earnings per share by eliminating high-value asset financing costs. He highlighted that debt visibility had been a challenge for investors and that this sale simplifies the company's balance sheet, making it more attractive.
Beyond financials, Korkmaz reaffirmed Hercules' commitment to its core labour supply business. He cited ongoing UK infrastructure projects—including the Heathrow expansion and nuclear power developments—as key growth drivers. Additionally, he noted that the company's construction academy has trained over 1,100 individuals in its first year, reinforcing Hercules' role in workforce development.
For more insights on Hercules Site Services’ strategy and future outlook, watch the full interview. Don’t forget to like this video, subscribe to our channel, and turn on notifications for more updates from Proactive.
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