Hercules (AIM:HERC), a UK infrastructure and construction services group, reported revenue of £121.2m for FY2025, up from £101.9m a year earlier.
Underlying EBITDA increased 34% to £6.4m, underlying pre‑tax profit was £4m (FY2024: £2.6m), underlying EPS rose to 4.74p (FY2024: 3.47p) and cash generated in the year was £7.6m (FY2024: £7.5m), while statutory pre‑tax profit from continuing activities fell to £0.9m (FY2024: £2.2m) reflecting amortisation of acquisition‑related intangibles, share‑based charges, exceptional acquisition items, IT implementation costs and business development spend.
The Labour Supply division remained the Group's largest revenue contributor and growth was supported by acquisitions including Advantage NRG and Quality Transport Training (QTT) in FY2025 and the post‑period acquisition of Lyons Power Services, which expanded Power & Energy capability and Academy capacity.
The Annual Report contains a qualified audit opinion relating to historical matters involving a number of training and consultancy suppliers and sets out that specialist investigations and remediation of systems and controls are underway, with remaining work expected to complete by 30 September.
No final dividend will be paid for FY2025 (FY2024: 1.12p) as the Board prioritises acquisitions and systems investment.
Unaudited revenue for the six months to 31 March rose to £59.2m (H1 2025: £54.6m) although Labour Supply and Advantage NRG revenue is traditionally weighted to the second half and some projects have been delayed.
"Growing our business rapidly both organically and through acquisitions to achieve revenue of over £120m in FY 2025 is a fantastic achievement but has placed strains on our systems and controls," said Brusk Korkmaz, CEO.
