Hercules Site Services PLC on Monday told its annual general meeting that, despite challenging economic conditions, its business performance has continued to improve.
Hercules shares rose 11% to 33.00 pence each on Monday afternoon in London.
The Cirencester, England-based labour supplier for the UK infrastructure sector said that since the end of financial year 2023 in September, it expanded its presence via the acquisition of Future Build Recruitment Ltd. In November, it bought 60% of the company, which is a specialist UK-based white-collar recruitment company operating in the UK, for £1.3 million.
In January, Hercules had reported that pretax profit in the financial that ended September 30 surged to £641,321 from £160,685 in financial 2022. Revenue jumped 71% to £84.7 million from £49.5 million.
On Monday, Chair Henry Pitman said: ‘Reiterating what we said in our full-year results, the UK has been living with high inflation and interest rates for a good period of time now, but pleasingly the infrastructure sector is still forging ahead. Access to labour continues to be a core priority for the sector, and we have built an excellent reputation as a tier 1 provider due to our technological edge and experienced management team.’
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