Hercules Site Services PLC AGM Statement (6515S)
March 13 2023 - 3:00AM
UK Regulatory
TIDMHERC
RNS Number : 6515S
Hercules Site Services PLC
13 March 2023
13 March 2023
Hercules Site Services plc
("Hercules" or "the Company")
AGM Statement
The Annual General Meeting ("AGM") of Hercules Site Services plc
(AIM: HERC), a leading technology enabled labour supply company for
the UK infrastructure sector, will hold its Annual General Meeting
("AGM") today at 2.00 p.m. where the Company's Non-Executive
Chairman, Henry Pitman, will provide the following statement:
"We are delighted to welcome you to our AGM, following a year
where we delivered 50% growth in turnover. This success enabled us
to propose a final dividend for the year ended September 2022 of
1.12p per share, resulting in a total dividend of 1.72p per share
for the year.
"The Directors believe another such year of similar growth lies
ahead, and we are excited at the prospects for Hercules in both the
near and mid-term as we seek to grow the business both organically
and via selective acquisitions.
"Our pipeline for 2023 looks robust across all three of our
business units and, as outlined in our Full Year results, trading
in the current financial year has begun positively. As well as
increased momentum on the HS2 rail project from London to
Birmingham, we expect further growth to come from new contracts for
our Labour Supply, Suction Excavator and Civil Projects divisions,
driven by the buoyant conditions in the infrastructure market at
present. Our recent fundraise provides us with additional working
capital to enable us to meet the strong demand for our services we
are experiencing.
"On top of the significant value we expect to create through our
core business divisions, we look forward to building on the
momentum we have achieved in terms of monetising our digital
services. With regards to potential acquisitions, we are
progressing discussions with potential targets and look forward to
updating the market at the appropriate time.
"The Board of Hercules remains confident about the outlook for
the Company. We have to navigate through the current challenging
economic climate similar to other UK businesses, but we are
experiencing unprecedented demand for our services due to the
multi-billion-pound infrastructure commitments made by the UK
government and private enterprises.
"We again thank our shareholders and all our corporate
stakeholders for their support. I would also like to thank the
Hercules team for their hard work and passion during the period
which, together with the strength of our reputation and our
competitive market positioning through our embrace of digital
technology, is key to our past and future success."
Additionally, the Company expects to announce its Interim
Results for the six months ended 31 March 2023 during the week
commencing 5 June 2023.
-ENDS-
For further information and enquiries, please contact:
Hercules Site Services plc c/o SEC Newgate
Brusk Korkmaz (CEO)
Paul Wheatcroft (CFO)
SP Angel (Nominated Adviser and Broker)
Matthew Johnson / Adam Cowl / Harry Davies-Ball
(Corporate Finance) +44 (0) 20 3470
Grant Barker / Rob Rees (Sales and Broking) 0470
SEC Newgate (Financial PR) +44 (0) 20 3757
Elisabeth Cowell / Ian Silvera / Matthew 6882
Elliot Hercules@secnewgate.co.uk
About Hercules Site Services plc
Hercules is a leading tech enabled labour supply company for the
UK infrastructure sector. Founded in 2008, Hercules has an
established track record of profitability and fast-growth and has
built a blue-chip customer base which includes Balfour Beatty,
Costain, Kier, Skanska, Dyer & Butler and Volker Fitzpatrick.
The Company has been appointed to provide labour for a range of
high-profile infrastructure projects, such as HS2, due to its
agile, innovative, digital first approach and complete service
offering. It is well-placed to benefit from any government increase
in infrastructure spending and its experienced management team has
identified multiple opportunities for growth.
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END
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