3 January 2024
Hercules Site Services plc
("Hercules" or the "Company")
Civils Projects Division Update
Hercules Site Services plc (AIM: HERC), a leading technology enabled labour supply company for the UK infrastructure sector, is pleased to announce that its Civils Projects division has been awarded further contracts with a combined value of £5.75 million during Q4 2023, the first quarter of the Company's new financial year. These contracts will see Hercules deliver critical work for two major clients relating to eight wastewater treatment and water management projects.
The Civils Projects division has extensive expertise in executing projects in this sector and experienced a busy year in 2023 as UK water companies face mounting pressure to increase the country's water resilience.
The contracts are divided as follows:
· £3.78 million awarded from Thames Water across six sites, the largest contract being £2.2 million at the sewage treatment works (STW) in Crawley, West Sussex
· £1.97 million awarded from Anglian Water across two sites, the largest contract being £1.29 million at the water pumping station in Etton, near Peterborough
Paul Field, Construction Director, commented: "These further wins are testament to our strong position as a trusted supplier to the UK water industry and build on the contracts previously announced in September with these two important clients.
"The UK water industry has pledged to invest £10 billion to provide a cleaner, safer infrastructure network, and Hercules is well placed to help deliver on this given our expertise in the space."
For further information and enquiries, please contact:
| Hercules Site Services plc Brusk Korkmaz (CEO) Paul Wheatcroft (CFO) | c/o SEC Newgate |
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| SP Angel (Nominated Adviser and Joint Broker) Matthew Johnson / Adam Cowl / Harry Davies-Ball (Corporate Finance) Grant Barker / Rob Rees (Sales and Broking) | +44 (0) 20 3470 0470 |
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| Cavendish Securities plc (Joint Broker) Adrian Hadden / Charlie Combe / Dale Bellis (Sales and Broking) | +44 (0) 20 7397 8900
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| SEC Newgate (Financial Communications) Elisabeth Cowell / Ian Silvera / Matthew Elliott | +44 (0) 20 3757 6882 Hercules@secnewgate.co.uk
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About Hercules Site Services PLC
Hercules is a leading tech enabled labour supply company for the UK infrastructure sector. Founded in 2008, Hercules has an established track record of profitability and fast-growth and has built a blue-chip customer base which includes Balfour Beatty, Costain, Kier, Skanska, Dyer & Butler and Volker Fitzpatrick. The Company has been appointed to provide labour for a range of high-profile infrastructure projects, such as HS2, due to its agile, innovative, digital first approach and complete service offering. It is well-placed to benefit from any government increase in infrastructure spending and its experienced management team has identified multiple opportunities for growth.
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