Hercules Site Services PLC Civils Projects Division Update (3729Y)

TIDMHERC

RNS Number : 3729Y

Hercules Site Services PLC

03 January 2024

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 GBP5.75 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:

-- GBP3.78 million awarded from Thames Water across six sites, the largest contract being GBP2.2 million at the sewage treatment works (STW) in Crawley, West Sussex

-- GBP1.97 million awarded from Anglian Water across two sites, the largest contract being GBP1.29 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 GBP10 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                                           c/o SEC Newgate 
  Brusk Korkmaz (CEO) 
  Paul Wheatcroft (CFO) 
 
 SP Angel (Nominated Adviser and Joint Broker) 
  Matthew Johnson / Adam Cowl / Harry Davies-Ball 
  (Corporate Finance)                                            +44 (0) 20 3470 
  Grant Barker / Rob Rees (Sales and Broking)                     0470 
 
 Cavendish Securities plc (Joint Broker) 
  Adrian Hadden / Charlie Combe / Dale Bellis                    +44 (0) 20 7397 
  (Sales and Broking)                                             8900 
 
 SEC Newgate (Financial Communications)                         +44 (0) 20 3757 
  Elisabeth Cowell / Ian Silvera / Matthew Elliott               6882 
                                                                 Hercules@secnewgate.co.uk

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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January 03, 2024 02:00 ET (07:00 GMT)

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