A Cirencester company that supplies workers to major 海角视频 projects such as HS2 and Sizewell C has reported a rise in profits for the first half of the year.
AIM-listed Hercules posted an 18% rise in revenue to £54.6m in a set of unaudited interim results for the six months ending March 31.
It also saw adjusted EBITDA - a measure of performance - rise to £2.6m from £2.1m the year before. Adjusted pre-tax profit for the period increased to £1.7m from £1.1m.
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The company, which is supplying labour for the early works phase of Sizewell C nuclear plant, declared an interim dividend of 0.6p per share - in line with the previous year.
On Tuesday (June 17), Hercules said that following the Government’s recent approval of the Suffolk power plant, it believed it would support the project through its main construction phase.
Last week Rachel Reeves signed off on £14.2bn of investment to build the new Sizewell C nuclear station as part of the spending review. The project is expected to span 20 years and cost £30bn.
Brusk Korkmaz, chief executive of Hercules, said: “Our progress is a testament to the strength of our management team, whose ambition and focus is driving the business forward.
“Progress we expect to continue as the 海角视频 carries out substantial construction and infrastructure upgrades within the nuclear, power and energy distribution, aviation, water, and rail sectors.
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“With solid operational momentum, a healthy pipeline, and a positive outlook across the infrastructure sector, we remain confident in meeting market expectations for the full year.”
The news comes just days after the Gloucestershire company confirmed it had acquired a Staffordshire training business for an undisclosed sum.
Hercules said the acquisition of Lichfield-based Quality Transport Training (QTT) would expand the capacity of its own training academy, which is located in Nuneaton in the West Midlands.
The Hercules Academy was launched in January last year and has trained more than 1,500 individuals since opening.