NuGen Properties

51% growth for AIM-listed Hercules

Founder and chief executive Brusk Korkmaz

Hercules Site Services, which listed in the Alternative Investment Market (AIM) of the London Stock Exchange in February last year, generated revenue of £49.5m in the year to 30th September 2022 (2021: £32.7m).

With more than £440,000 of costs relating to the initial public offering, pre-tax profit dipped to  £161,000 (2021: £572,000).

The company’s core labour supply business began a contract to supply labour to the HS2 project at the start of the year. It has also grown its specialist plant services business – it now owns a fleet of 20 suction excavators with a further 10 due for delivery by 31st March – and has added new clients for its civil projects division.

It has also introduced two new income streams to the labour supply business. The supply of security personnel which has started on the M42 and a white-collar recruitment business, placing permanent job roles, such as engineers and site managers, has secured its first business with client Galliford Try. Other labour supply customers include Balfour Beatty, Costain, Kier, Skanska, Dyer & Butler and Volker Fitzpatrick.

Chief executive Brusk Korkmaz, who founded the business in 2008, said: “Hercules has enjoyed positive year-on-year growth in 2022 which has seen us successfully deliver on our strategy and achieve momentum across all areas of our business. In doing so, we have continued our long-term track record of creating value for our stakeholders.

“As these results show, Hercules is ideally placed to benefit from the buoyant market conditions and we have invested in our business during the period to prepare for continued growth in the months and years ahead. We have been implementing a successful strategy to tackle wage inflation and post year end trading has been very encouraging, underpinning our confidence for the current year.”

Chairman Henry Pitman added: “It has been a positive year which has seen Hercules achieve all the near-term milestones communicated at the time of our listing, and we look forward to continuing this theme in the months and years ahead.”

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Customer Reviews

Nugen Properties

Customer Reviews

Dan Morten 18/01/22

Easy to work with, Jordan and the team were professional and were easy to communicate with.
Would highly recommend.

Di Hayes 20/08/22

NuGen Properties built an extension to the rear of my property, replacing the old conservatory. I am so pleased I chose this company. From the initial quotation, through the build and after they were professional, polite & well mannered. They kept the site tidy throughout the build and kept me informed of each stage as it happened. The work was finished to a good standard and I have had nothing but compliments on their work. I am already planning for them to come back and do some more work for me in a few months. I would 100% recommend them.

Bradley Eyles 20/06/23

Nugen were fantastic throughout the works they carried out on my property, Jordan provided constant updates and ensure any questions I had were always answered. All works were completed in a timely fashion, on budget and exceptional customer service. Highly recommend!

Sonny Carter-heyward 29/02/22

Brilliant service, renovated my house to make a dream a reality. Thanks guys

sitemanager 22/01/23

Great firm to communicate with fast and good quality work.