A Cirencester-based labour and construction services company has reported revenue growth in its latest results.
Hercules Site Services, has released its trading update for the six months to March 31 2023, stating that revenue has grown by 85% to more than £37m in the first half of the financial year, in line with market expectations. The company said that all income streams grew as there was a "substantial demand in the infrastructure sector".
Brusk Korkmaz, chief executive, commented: "During the period we have delivered strong revenue growth, new clients and opened doors to exciting new sales opportunities. While we are not immune to inflationary pressures, with trading in line with expectations, and strong momentum being experienced in the construction and infrastructure sectors, we look forward to the next six months with confidence."
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Hercules will publish its interim results on June 5 2023. On the same day, Mr Korkmaz and chief financial officer Paul Wheatcroft will deliver a live presentation regarding the Company's Interim Results.
The company, whose clients include Balfour Beatty and Kier, supplies labour to infrastructure, civil engineering, utilities, groundworks, highway and railway projects, including HS2, Crossrail and the M4 smart motorway.
Last year, the company brought in £8m after floating on the alternative investment market (AIM). Hercules Site Services raised £4m on its entry to the stock market, while Mr Korkmaz, netted another £4m.
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