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Gloucestershire Business News

Labour supply company's revenue soars

Cotswold-based Hercules Site Services' revenue is set to rise to £47 million in the first six months of its financial year.

This represents an increase of around 27% compared to the six months to March 31, 2023 (£37m).

The company, headquartered at South Cerney, near Cirencester, supplies labour for the UK infrastructure sector.

In a trading update, Hercules says it is trading in line with market expectations for the full year to September 30, 2024.

All income streams grew, each with their own individual drivers, underpinned by the substantial demand in the infrastructure sector.

Brusk Korkmaz, chief executive officer, said: "We have delivered further revenue growth in the first half of this financial year and gained a number of new contracts, including over £5m in civil projects and signed a significant new framework agreement with Costain.

"The integration of Future Build Recruitment following our acquisition of the business in December 2023 is progressing well and we are already seeing cross‐selling and upselling opportunities from our existing clients.

"As the UK continues to face a skills shortage, the Hercules Construction Academy successfully opened in January 2024 and is already developing a reputation for delivering first-class training and the upskilling of workers across the industry. The site, based in the West Midlands, also gives us a strategic foothold in the heart of England.

"We are trading in line with expectations and, with continuing strong momentum in the infrastructure sector including highways, energy and water, we look forward to the rest of this financial year with confidence."

Hercules will publish its interim results on June 3.

Hercules joins Costain labour framework agreement 

Hercules Site Services completes first acquisition 

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