Infrastructure business doubles pre-tax profits

UTILITIES infrastructure business Fulcrum has nearly doubled its half year pe-tax profits.

The company, which supplies infrastructure for energy and utilities, returned profit before tax of £3.1m for the six months to 30 September 2016, up from £1.6m in the comparable period last year.

Revenue rose slightly by 0.6% to £17.2m. Fulcrum said this was down to operating efficiencies, a broader mix of sales orders being won and delivered and a larger proportion of the high margin pipeline transportation income.

Since April 2015 the company has undergone a restructure to become a directly managed project delivery service.

It was acquired from the National Grid in 2010, and around half of its 200-strong workforce are located at Sheffield Business Park.

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. 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. We believe this approach will continue to provide opportunities for further profitable growth, sustained cash generation and returns to our shareholders.”