Infrastructure business confident as order book hits £29m
The chief executive of utilities infrastructure business Fulcrum said he is confident in the outlook for the company, which has seen its order book increase 33% to £29m.
In a pre-close trading update for the 12 months to March 31, 2017, Martin Donnachie said: “We have achieved our aim of growing the sales order book – 2016/17 has seen continued expansion of both our infrastructure services and asset ownership businesses.
“The business has an established and growing market leading position. We will continue to focus on improving customer service, building our order book and using the cash generated to increase the asset base and the recurring transportation income, all whilst maintaining and improving operational disciplines. We remain confident in our outlook for the business.”
As part of Fulcrum’s growth strategy, the company is expanding its asset management portfolio. This includes increasing agreements to adopt external gas assets from utility infrastructure providers, which do not have an independent gas transportation licence that is required to own gas pipelines.
Fulcrum plans to invest £2.8m in acquiring infrastructure assets, which will generate income from the transportation of gas. This will build upon the 300km of gas pipeline with 13,000 supply points the company currently owns and manages.