Green energy infrastructure provider Fulcrum reports strong recovery after the end of lockdowns

The Sheffield-based group, which is focused on delivering infrastructure for the UK’s net-zero future, said revenues jumped 47 per cent to £29m in the six months to September 30.

Fulcrum reported significant order book growth, which stood at £81m at the end of the six month month period. The firm said the growth reflects its presence in multiple markets including housing, industrial and commercial, smart metering and electric vehicle charging infrastructure. The order book rose 44 per cent from the £56m figure at the end of March.

The group made a pre-tax loss of £1.3m, down from a loss of £3.7m in the previous half year, reflecting increased adjusted earnings and a reduction in exceptional items.

Fulcrum said that it has secured a broad portfolio of contracts, which includes a five year £20m agreement with energy supplier E to manage its 320,000 meter points and exchange an expected 80,000 meters to smart technology.

In the housing sector, it won two contracts, worth a combined £6m, to deliver multi-utility infrastructure at a major scheme, Fairham, as well as a £1m contract to design and install multi-utility connections to 715 new homes on behalf of a national house builder.

Terry Dugdale, Fulcrum's chief executive, said: “We have made good progress across all areas of the business in the first half of the year.

"Our order book is healthy and continues to grow. The resilience demonstrated by Fulcrum to date in the face of ongoing turbulence in the energy market is, I believe, a testament to the robustness of our business model, diverse operations and order book strength."

Fulcrum said it is highly active in the industrial and commercial property market, with schemes including a £5.5m contract to design and install 21km of multi-utility infrastructure that will heat and power a large scale greenhouse and a £5m contract to design and install high voltage electricity, water, and gas infrastructure for a major, new, innovative employment park.

Mr Dugdale said: “Our continued focus on stabilising the business and strengthening its foundations has enabled us to grow in our core markets and provides a robust platform from which to grow the business further.

"The backdrop of the UK’s smart energy revolution and vision for a net-zero future presents Fulcrum with significant and strategic growth opportunities and I am excited by the future prospects for the business."