Hercules subsidiary secures £6.5m of UK electricity works

(Sharecast News) - Hercules said on Monday that its power and energy subsidiary Advantage NRG has secured around £6.5m of contracted works across two major UK electricity networks, strengthening revenue visibility for the 2026 financial year.

The AIM-traded infrastructure and construction services group said the new works would run from January to December and form part of existing framework agreements with Electricity North West and Scottish and Southern Electricity Networks.

It said Advantage NRG supplies specialist linesmen for the construction and maintenance of overhead electrical transmission lines, with the contracts expected to require up to 52 skilled operatives at peak delivery.

Hercules said the awards reflected growing year-round demand for specialist labour as electricity network operators accelerated investment in network resilience and capacity.

The group pointed to a broader uplift in UK power infrastructure spending, including proposals by National Grid for £58bn of investment to extend and modernise transmission and distribution networks.

Chief executive Brusk Korkmaz said the timing of the awards underlined strengthening market conditions.

"The award of these works so early in the year shows the increasing demand for flexible, high-quality delivery of specialist labour as electricity network operators respond to the increased investment across the UK power and energy sector," he said.

He added that Advantage NRG was positioned to benefit as spending gathered pace.

"Power and energy is a key growth pillar for the group, and having specialist, scalable capability ready to meet the growing need for skilled operatives, reinforces Hercules' position as a trusted partner to UK electricity network operators," Korkmaz said.

At 1156 GMT, shares in Hercules were up 4.72% at 49.74p.

Reporting by Josh White for Sharecast.com.

Hercules Plc