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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 0.0% 55.50 54.00 57.00 55.50 55.50 55.50 3,695 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering - - - - 33

Hercules Site Services PLC Skills Portal Launch for HS2

08/11/2022 7:00am

RNS Non-Regulatory


TIDMHERC

Hercules Site Services PLC

08 November 2022

Reach - Non-Regulatory

8 November 2022

Hercules Site Services plc

("Hercules" or "the Company")

Skills Portal Launch for HS2

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 launched its skills portal, the Skills, Employment and Education ("SEE") Everything Portal, which has been developed in conjunction with the Balfour Beatty Vinci Systra (BBVS) joint venture on the HS2 rail project.

The launch follows the completion of successful trials, triggering an initial payment of GBP44,000 to Hercules. The Company and BBVS have now entered into a licence agreement regarding the SEE Everything Portal's full implementation and use at the Old Oak Common regeneration project in west London. This represents a significant milestone in Hercules' strategy to monetise and white label its digital tools for major projects. The Company is now well positioned to progress a pipeline of licensing opportunities across the public and private sectors to secure additional recurring revenue.

The SEE Everything Portal aims to reduce the time and resource spent coordinating, tracking, monitoring and validating data on equality, diversity, inclusion, skills, employment and education outputs on infrastructure and construction projects. Reports can be produced for any of the recorded data and have proven to be key in measuring SEE performance and demonstrating capabilities and awareness for tendering.

The portal can be easily accessed and used across all types of devices and it utilises a user-friendly web-based interface that delivers seamless stakeholder coordination. The standardised collection of 'live' data enables contractors and sub-contractors to become more embedded in the local community and achieve more project SEE targets generating additional benefits for local people.

Contractors are increasingly required to demonstrate the SEE impact of a project when entering into a tendering process following the implementation of the Social Value Act (2012). This has meant that social value has become an ever-growing metric that is being required across all sectors, especially for public spending.

Brusk Korkmaz, Hercules' Chief Executive Officer, commented : "Our SEE Everything Portal will make it easier for contractors and sub-contractors of all shapes and sizes across the private and public sectors to meet their skills, employment and social value commitments.

"Beyond providing another example of how we embrace digital innovation in the infrastructure sector, the SEE Everything Portal chimes with our core values of being committed to improving the lives of our workforce and positively disrupting the construction industry.

"We will continue to work together with our clients to create lasting, mutually beneficial partnerships that are driving change in our industry and delivering ever higher standards for our workforce, our partners and the local communities that we work in. In doing so, we are delivering new revenue streams with high growth potential for our stakeholders."

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) 
  Grant Barker / Rob Rees (Sales and Broking)                   +44 (0) 20 3470 0470 
 
 SEC Newgate (Financial Communications)                        +44 (0) 20 3757 6882 
  Elisabeth Cowell / Ian Silvera / Max Richardson               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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November 08, 2022 02:00 ET (07:00 GMT)

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