Energy network specialist Fulcrum Utility Services (FCRM) delivered a trading update that confirmed guidance for the year to March 2018. The order book stood at £38.3m at the end of February, a 26 per cent increase from FY2017, with three-quarters of the increase down to the acquisition of Dunamis, an electrical infrastructure company the group bought in the same month. Management confirmed the early integration of the business is progressing well, and it anticipates enhanced cross-selling opportunities as the process moves on.
The Dunamis acquisition beefs up Fulcrum’s business in owning and operating electrical utility assets. The group announced a further acquisition of specialist engineering group CDS Pipe Services alongside the trading update, strengthening its capabilities for direct delivery. There has been sustained growth in the gas assets secured from utility infrastructure providers, with committed external capital increasing from £2.8m at FY2017 to £9.5m by the end of February.
