Fulcrum reports surge in profits following new contract acquisitions

The firm reported a profit of £4.3m before tax for the year ending March 31, up from £0.6m in the previous year.

During the year, it won several new gas and electricity contracts, including a second prestigious contract with Scotland’s whisky industry.

The £4m contract, to install an eight mile pipeline to link Scotland’s main gas network to four Speyside distilleries, was successfully completed one month ahead of schedule.

It also won work on redevelopments at Royal Albert Dock, Chelsea Barracks and Battersea Power Station and gained an extension to a longstanding contract with British Gas to provide gas and electricity connections and metering services until January 2018.

Phil Holder, chairman, said: “Fulcrum has continued to make excellent progress this year, achieving our objectives and strategy. With a sustained focus on customer service excellence, we can look forward to building on recent contract wins and further expanding our multi-utility services. The Group’s order book and operating cash flow both remain strong and support our strategy for growth. We believe the outlook remains positive and that the Group continues to be well positioned to make further progress in 2017.”

Fulcrum, based at Europa View on Sheffield Business Park, has 1,200 clients. It won “Company of the Year” at the 2016 Gas Industry Awards.