Revenues rocket for Sheffield’s Fulcrum

‘Year of progress’ for Sheffield’s Fulcrum

Fulcrum, the Sheffield-based multi-utility infrastructure and services provider, has seen its revenue rocket for the six months to 30 September.

Revenue was up by 49%, reaching £29.2 million, up from last year’s figure of £19.6 million.

Adjusted EBITDA, meanwhile, experienced a 35.7% to £5.4 million compared with £4 million in the same period last year.

Profit before tax was also on the up at £4.2 million – a 13.5% rise to £3.7 million.

The firm noted that it has delivered “sustained growth” in its infrastructure order book which has risen 8.8% since March 2018 to £45.8 million.

During the period, Fulcrum integrated The Funamis Group – acquired in February – and CDS Pipe Services – acquired in April – into its operations, which it said are “progressing well” and “in line with expectations.”

The former was reported as delivering a number of projects in the period, including the first tranche in a series of electrical vehicle charging infrastructure projects.

As well as these EV projects, Fulcrum also established a smart metering survives. Dubbed Meter Operator is part of plans for the installation and adoption of smart meters.

Fulcrum CEO Martin Harrison said: “These results reflect the continued successful delivery of the Group’s long-term strategy and our commitment to meeting customer demand across each of our routes to market.

“The Group continues to invest in the business to drive sales growth, improve operational capacity and efficiency and push for ever higher levels of customer satisfaction.”

He added: “The Group is well positioned to deliver further high quality, sustainable growth.”