At the Proactive One2One Investor Conference, Hercules Site Services PLC (AIM:HERC) showcased a remarkable year of growth in 2023, with CEO Brusk Korkmaz and CFO Paul Wheatcroft detailing record financial achievements and forward-looking growth strategies. The UK-based, technology-enabled labour supply company, specialising in the infrastructure sector, reported a revenue increase of 71% to £84.7 million and a significant rise in EBITDA by 79% to £4.1 million. Their earnings per share soared by 119%, reflecting strong operational success across their labour supply and construction services divisions.
Korkmaz highlighted Hercules’ pivotal role in supplying labour for major infrastructure projects, including highways, rail, utilities, and energy, emphasising a future focus on further penetrating these areas due to increasing demand and a current skills shortage. The acquisition of Future Build Recruitment is set to bolster their white-collar recruitment capabilities, responding to client needs for specialised management and engineering roles.
The CFO, Wheatcroft, introduced the company's ambitious plans for a Construction Academy to tackle the skill gap directly, aiming to upskill the workforce to meet burgeoning infrastructure project demands. This initiative is expected to harness available grants and create new revenue streams while contributing to the company's organic growth.
Hercules Site Services PLC (AIM:HERC) also plans to continue its expansion through strategic acquisitions and partnerships, carefully navigating market conditions to avoid diluting share value. With a solid foundation laid in 2023, the company is positioned for sustained growth, leveraging its comprehensive service offerings and strategic initiatives to capitalise on the UK's significant infrastructure investment plans.
