Business
Business Update
Business Update.
About this update from Hercules Plc
[{"type":"text","content":"\n\nHercules Site Services plc\n(\"Hercules\" or the \"Company\")\nBusiness Update\n \nHercules Site Services plc (AIM: HERC), a leading technology enabled labour supply company for the UK infrastructure and construction sectors, is pleased to provide a brief business update.\nThe Company remains well-positioned to benefit from, and grow in line with, the new government's housing and infrastructure plans by providing local people for local jobs through its mobile apps and by upskilling and cross-skilling its workforce through the Hercules Construction Academy in Nuneaton.\nThe Hercules strategy not only ensures the longevity of work for the business but also addresses well publicised skill shortages with the Construction Industry Training Board estimating that more than 250,000 workers will be needed over the next five years.\nLabour Supply\n \nThe Labour Supply division continues to thrive. The division was awarded a place on the Hill Group PSL to provide blue-collar operatives for the construction industry. This is the first cross-selling opportunity secured via Future Build, the Company's recent acquisition in the white-collar recruitment sector.\n \nAlso noteworthy is that Hercules has now begun supplying labour to the Sizewell C nuclear project in Suffolk, necessitating the expansion of the Company's office footprint with a satellite office now situated in Saxmundham, near Ipswich, further expanding the Company's reach across the UK alongside permanent offices in South Cerney, Gloucestershire, and Nuneaton in the West Midlands.\n \nHercules has also been awarded a place on Balfour Beatty Kilpatrick's Contingent Labour Framework for the supply of Mechanical and Electrical (M&E) roles after a successful tendering process. This further strengthens the Company's long-term client relationship with Balfour Beatty, adding to the work already done on Highways and Rail. \nCivils Projects\nThe Civils Projects division has been awarded further new contracts with a combined value of £7.89 million during H1 2024, the second and third quarters of the Company's financial year. These contracts will see Hercules deliver critical work for two major clients: Thames Water and Anglian Water, relating to 14 wastewater treatment and water management projects.\nThe Civils Projects division has extensive expe...