Hercules Site Services PLC (AIM:HERC) CEO Brusk Korkmaz and CFO Paul Wheatcroft speak to Thomas Warner from Proactive after the UK infrastructure company released a trading update for the year to 30 September that revealed another significant year-on-year increase in revenues.
Korkmaz says the company had a strong performance in its labour supply division, notably on the HS2 project, and recently announced a successful tender with Balfour Beatty rail. CFO Paul Wheatcroft gives more detail on the company's financial performance for the year, highlighting an expected 60% increase in turnover, surpassing market forecasts of £80 million in revenue.
He says growth has been driven by success across the board, from labour supply to civil projects and suction excavators. Looking ahead, Hercules Site Services plans to open a training facility in Nuneaton, addressing the UK's skill shortage while generating additional revenue. The soft launch is scheduled for November, with an official opening in January.
CEO Brusk Korkmaz also noted a focus on improving the utilisation rate of their suction excavators, with a goal of reaching an average minimum of 80%. The company remains busy with expanding teams and exploring potential acquisitions and partnership models.
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