Hercules Site Services PLC on Tuesday said it anticipates revenue and adjusted earnings for its recently completed financial year to be ahead of market consensus, which already predicts significant growth.
Hercules is a Cirencester, England-based labour supply company for the UK infrastructure sector.
The company expects revenue and adjusted earnings before interest, tax, depreciation and amortisation for the financial year that ended on September 30 to be ahead of market expectations.
Hercules Site said the market consensus for revenue is £73.1 million for financial 2023, 47% higher than £49.5 million the year before. Adjusted Ebitda consensus is £3.4 million, up 48% from £2.3 million.
Chief Executive Officer Brusk Korkmaz said: ‘We are delighted that our average annual revenue growth over the past three years has been 50%, and we are also pleased to report that we expect both our revenue and Ebitda for FY23 to exceed market expectations.’
He added: ‘All areas of our business have experienced substantial growth during the period, and we are observing significant opportunities for the year ahead. Our training academy in Nuneaton is expected to soft launch in November before its official opening early next year, thereby providing an additional revenue stream in 2024 and helping address a skills shortage in the infrastructure industry and wider economy.’
Hercules Site shares were up 5.8% to 26.98 pence each on Tuesday morning in London.
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