Sheffield-based Fulcrum reports £1.6m pre-tax profit for the half year

Fulcrum, the Sheffield-based independent energy and multi-utility infrastructure and services provider, has reported record pre-tax profits of £1.6m for the six months to 30 September 2015.

The company’s interim results also report an increase in revenue of £300k with turnover reaching £17.1m.

Fulcrum’s strong performance has been attributed to its extensive work across its broad client base, completing over 1,100 projects under £100k across the UK, in addition to a number of high profile projects in the first half of the financial year.

Most notably, Fulcrum secured a £4m project to provide a 13km pipeline to link for whisky distilleries to Scotland’s main gas network in the Highlands, which is currently on course to be completed in early 2016.

In addition, Fulcrum’s national framework contract to provide connections to British Gas’ business customers in England, Scotland and Wales was recently extended by a further 26 months to 31 January 2018. This extension supports Fulcrum’s commitment to developing its 1,200-strong client base.

Fulcrum’s move to a direct delivery model in April 2015 has helped expand its workforce to over 200.

Martin Donnachie, chief executive of Fulcrum, said: “Fulcrum has continued to make excellent progress. Our core operational model has been established and we have continued to deliver efficiencies, providing us with a robust platform for profitable growth.

“This solid position, together with our commitment to customer service, has supported us in achieving notable organic growth through contract wins and importantly the extension of our British Gas framework contract.

“We continue to move forward with confidence for the future as we remain on course to deliver value to all our stakeholders as well as being the UK’s most trusted utility services partner.”

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