Hercules Site Services trading in line with expectations
By Josh White
Date: Tuesday 16 May 2023
(Sharecast News) - Infrastructure labour supply specialist Hercules Site Services said in a trading update on Tuesday that it was performing in line with market expectations.
The AIM-traded firm said it expected to generate revenue of more than £37m in the first six months of its financial year, indicating a notable increase of about 85% year-on-year.
It reported growth in all income streams, underpinned by "substantial demand" in the infrastructure sector.
"During the period we have delivered strong revenue growth, new clients and opened doors to exciting new sales opportunities," said chief executive officer Brusk Korkmaz.
"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."
Hercules said it would publish its interim results on 5 June.
At 1143 BST, shares in Hercules Site Services were down 0.49% at 36.32p.
Reporting by Josh White for Sharecast.com.
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