Fulcrum boosts market position in '˜transformative' year

FULCRUM Utility Services today said it been through a transformative year in which it had strengthened its market position.

Tuesday, 5th June 2018, 10:16 am
Updated Tuesday, 5th June 2018, 10:17 am
Fulcrum Utility Services has published its full year results.

Fulcrum, which is a multi-utility infrastructure and services provider, has announced its audited preliminary results for the year ended March 31 2018.

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Revenue grew by 18.8% to £44.8 million while adjusted EBITDA was up by 19.2% to £8.7 million.

Martin Harrison, CEO of Fulcrum, said: “This has been a transformative year for Fulcrum in which we continued to deliver against our strategy and strengthened our market position. We have driven strong organic growth in our core business and have expanded our in-house capabilities and share in the electric and specialist gas connections markets following the acquisitions of Dunamis and CDS.

“We remain committed to safety, providing excellent customer service, enhancing our in-house multi-utility and infrastructure service capabilities and growing the utility asset base. The combination of the new £20.0 million debt facility and our net cash of £9.4 million positions us well for investing in new opportunities such as the ownership of electric utility assets, electric vehicle charging and smart metering solutions. We have a strong platform for continued profitable growth in the coming year and remain confident for the future.”