Sheffield’s Fulcrum almost doubles pre-tax profits after surpassing £3m mark

Fulcrum, the Sheffield-based independent multi-utility services provider, has almost doubled pre-tax profits on the same period last year, from £1.6m to £3.1m.

Interim results announced for the six months ending 30th September 2016, reveal that the company’s trading performance is strong.

Fulcrum’s order book has increased in value to £24.4m, a rise of 12% on the position at 31 March 2016. This has been significantly bolstered by a recently agreed £4m project to install a new gas pipeline to a food manufacturing plant in the South West.

Fulcrum has also won contracts for a £1.4m, two kilometre gas pipeline in the North East of England and a £1m contract to install high voltage electricity cabling to a hospital development in the West Midlands.

In its interim results, Fulcrum has revealed progress on its asset growth strategy, increasing the value of its domestic, industrial and commercial assets by £1.1m, to a total value of £10.4m.

Fulcrum has also progressed rapidly since turning its first profit of £600k in 2015, which increased to £4.3m in the year ending March 2016.

Martin Donnachie, CEO of Fulcrum, said: “Fulcrum continues to focus on becoming the UK’s most trusted utility services partner and is delighted to deliver another set of strong results for the first six months of 2016/17.

“The numbers demonstrate how our integrated business model of providing multi-utility infrastructure services and growing our asset base continues to deliver financial and operational growth.

“Fulcrum is well-positioned to grow sustainably in the utility services market through ongoing investment in our people and processes to deliver customer focused, streamlined operations. This integrated approach will continue to provide opportunities for further profitable growth, sustained cash generation and returns to our shareholders.”