Fulcrum Reports Return to Profitability After Strategic Turnaround

Fulcrum Utility Services Limited has announced a return to profitability for the year ending 31 March 2024. The multi-utility infrastructure provider saw a revenue increase of 5.5% to £53.4 million, with an operating profit of £0.5 million, reversing the previous year's operating loss of £24.6 million.

This turnaround follows a comprehensive strategic review and the enhancement of shared services across its divisions: Dunamis, Maintech Power, Fulcrum (Multi-Utility Operations), and Fulcrum (Asset Ownership).

Dunamis reported notable growth, driven by the renewable energy sector, with revenues increasing by 67% to £23 million. Meanwhile, Maintech Power achieved an operating profit of £245k amidst growing demand for its HV electrical installation and maintenance services.

Looking ahead, Fulcrum aims to continue leveraging its expertise in high-growth markets like renewable energy, while focusing on core strengths and operational efficiencies to sustain its profitable trajectory.