In recent years, looking at the growing order book has been a good way to judge the growth in utility services group Fulcrum Utility Services (FCRM). However, with management’s push to enter new markets, the upside looks set to grow even faster.
Last month, the group was granted an Independent Distribution Network Operator licence by energy regulator Ofgem, allowing it to adopt and own electrical assets alongside the gas assets it already owns. It has started looking for electrical assets in preparation for the completion of its industrial qualification process early next year.
It has also been investing in building out its direct delivery capability, hiring six teams, five of which are capable of working across gas, electricity and water projects.
