Proactive Investors - Hercules Site Services said its pipeline for 2023 looks “robust” after a 50% increase in revenue last year ahead of the labour supply company’s AGM today.
Henry Pitman, a non-executive chairman, will tell investors another year of similar growth lies ahead for the business as it seeks to grow organically and via “selective acquisitions,” of which Pitman said the group is progressing.
Additionally, the company said all three of its business units have a robust pipeline in 2023, and that the current financial year has begun positively, according to a statement.
“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,” Pitman said.
Pitman said the board remains confident about the outlook of the London-listed company, and that it is experiencing “unprecedented demand” for its services despite the challenging economic outlook.
Hercules declared a final dividend for the year ended September 2022 of 1.12p per share, resulting in a total dividend of 1.72p.
Interim results for the six months ended 31 March will be released at the start of June.