Fulcrum reveals strengthening order book and continued progress

Fulcrum reveals strengthening order book and continued progress

Fulcrum, the UK’s leading independent multi-utility services provider, today announced that its order book has increased in value to £21 million, a rise of 11% on the year end position. The trading update also shows that the company’s earnings before tax are expected to be ahead of market expectations.

The strengthened order book at Fulcrum includes notable contract wins of a £1.4 million, two kilometre gas pipeline in the North East of England and a £1.0 million contract to install high voltage electricity cabling to a hospital development in the West Midlands. Fulcrum has also made progress winning multi-utility infrastructure contracts in the domestic housing market.

Fulcrum has announced that it will adopt, own and operate domestic meters from October and is actively pursuing full accreditation to extend meter ownership to include industrial and commercial applications. The company has pre-existing pipeline asset ownership capabilities and the adoption of gas meters will complete Fulcrum’s end-to-end offering.

The Sheffield-based company has progressed rapidly in recent years, having turned its first profit of £0.6million in 2015, increasing to £4.3million in the year ending March 2016. It was also named as Company of the Year at the prestigious Gas Industry Awards earlier this year.

Martin Donnachie, Chief Executive of Fulcrum, stated: “Fulcrum continues to deliver on its strategy and further strengthen its offering. With the sustained growth in EBITDA and cash generation, diversifying into meter asset management and our significant and diverse contract wins, we continue to move forward with confidence for the future.”