Labour supply firm Hercules set to hit £45m turnover

In a trading update today the AIM listed firm said revenue was on course to rise 38% on the previous year ended 30 September 2021.

Ramping up of the HS2 Phase 1 (northern section) contract has helped boost business with 260 Hercules operatives currently on site after the firm started supplying workers in January.

The firm is also planning to build its first Hercules Training Academy in Nuneaton near its HS2 operations.

Hercules saw a significant rise in demand across all civils sectors as covid-delayed work is accelerated.

Brusk Korkmaz, Chief Executive Officer, said: “FY22 has been a fantastic year of growth and positive change for Hercules, including our successful AIM listing in February.

“As a trusted provider of services to the construction and infrastructure sectors, we are well positioned to take advantage of the favourable market conditions in these industries.

“We expect HS2 and other key infrastructure projects to continue to drive growth in our labour supply business in 2023. We also expect that additional contracts to lay fibre for broadband will contribute to the momentum built up by the civil projects team during the last year.

“While we are not immune to the macro-economic situation, including inflationary pressures, we look forward with confidence to the new financial year.”

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