We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Hercules Site Services Plc | LSE:HERC | London | Ordinary Share | GB00BPVBVZ82 | ORD GBP0.001 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 41.00 | 40.00 | 42.00 | 41.00 | 41.00 | 41.00 | 58,733 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Heavy Construction, Nec | 84.67M | 759k | 0.0120 | 34.17 | 26M |
TIDMHERC
RNS Number : 0332P
Hercules Site Services PLC
09 October 2023
9 October 2023
Hercules Site Services plc
("Hercules" or "the Company")
Five-year contract with Balfour Beatty Rail Limited
Contract will see Hercules recruit specialist rail labour on live track for the first time, opening up new opportunities for the Company.
Hercules Site Services plc (AIM: HERC), a leading technology enabled labour supply company for the UK infrastructure sector, is pleased to announce that it has been awarded a five-year contract, following a rigorous and highly competitive tender process, to provide Balfour Beatty Rail Limited ("Balfour Beatty Rail") with contingent labour resource which will enable it to deliver its commitments during Control Period 7 ("CP7"). This marks the launch of a new division within Hercules' Labour Supply business, focused on the provision of specialist rail labour on live track to clients.
CP7 is a GBP44 billion, five-year plan for the railway in England and Wales, which will run from 1 April 2024 to 31 March 2029. Network Rail's key priorities during this five-year period are to deliver upgrades that will tackle climate change and improve train performance from current levels. Balfour Beatty Rail has been awarded major contracts during CP7 to deliver work on behalf of Network Rail, Transport for Wales, and London Underground and Hercules is one of six suppliers contracted to support on labour.
Hercules CEO Brusk Korkmaz commented, "This contract provides Hercules with an exciting new revenue stream which has strong potential for continued growth.
"While we have previously provided personnel to deliver heavy civils and earthworks to pre-enable rail-based projects, this contract will see us recruit specialist rail labour on live track on behalf of a customer for the first time, opening up a wider range of opportunities for Hercules in the rail industry. Given that we have worked with Balfour Beatty Group for many years, this news also demonstrates our ability to grow our total customer value due to the quality of the services we provide.
"Additionally, it is important to highlight that the recent government announcement about the future of HS2 has no impact on our ongoing contracts for Phase One of HS2 between London and Birmingham. Our work at this project continues to build momentum as we supply more contractors to site and with the launching of our new technical rail specialism, we are well placed to capture more value from future rail infrastructure projects."
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 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 (Corporate Finance) +44 (0) 20 7397 Dale Bellis (Sales) 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.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
CNTEQLFBXBLXFBZ
(END) Dow Jones Newswires
October 09, 2023 02:00 ET (06:00 GMT)
1 Year Hercules Site Services Chart |
1 Month Hercules Site Services Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions