Business
Interim Results - Replacement
Interim Results - Replacement.
About this update from Hercules Plc
[{"type":"text","content":"\n\nThe following amendment has been made to the 'Interim Results' announcement released on 5 June 2023 at 07.00 under RNS No 5355B.\n \nThe third bullet point of the financial highlights now reads \"Adjusted EBITDA* increased by 73% to £1.127m (H1 2022: £0.650m)\".\n \nAll other details remain unchanged. The full amended text is shown below.\n \n \n5 June 2023\n \nHercules Site Services plc\n \n(\"Hercules\" or \"the Company\")\nInterim Results\n \nHercules Site Services plc (AIM: HERC), a leading technology enabled labour supply company for the UK infrastructure sector, is pleased to announce its unaudited interim results for the six months ended 31 March 2023 (\"H1 2023\").\n \nFinancial highlights:\n \n§ Revenue increased by 85% to £37.0m (H1 2022: £19.9m)\n§ Gross profit increased by 71% to £6.9m (H1 2022: £4.0m)\n§ Adjusted EBITDA* increased by 73% to £1.127m (H1 2022: £0.650m)\n§ Interim dividend of 0.6p declared (H1 2022: 0.6p)\n \nOperational highlights:\n \n§ Further investment in people and procedures in H1 2023 has prepared the business for expected growth in the second half of the year (\"H2 2023\"), particularly labour supply and suction excavator services\n§ Labour supply to HS2 Phase 1 (northern section) has increased to 400 operatives from 180 at 31 March 2022\n§ Skills, Employment and Education Everything Portal has become revenue generative\n§ Now supplying labour to Taylor Woodrow, at the Exxon-Mobil oil refinery expansion in Fawley, near Southampton\n§ New clients secured during the period in the civil projects division including Amey and SGN Ltd\n§ Further fundraise completed, raising £1.7m to finance continuing growth\n§ Progress made in developing and planning the Hercules Training Initiative\n \n*Adjusted EBITDA definition - earnings before interest, tax, depreciation, amortisation, profit/loss on sale of fixed assets, exceptional items and R&D expenditure.\n \nBrusk Korkmaz, Chief Executive Officer, commented:\n \n\"We are delighted to have delivered a positive start to the year, with revenue growing by 85% and an increase in gross profit of 71% over 2022 levels, whilst we continue investing in support of further value creation in H2 2023.\n\"This success has been achieved through the continued labour supply services ramp-up...