Pre-close Trading Update & Annual General Meeting

RNS Number : 6380A

Fulcrum Utility Services Ltd

30 September 2015

 

30 September 2015

FULCRUM UTILITY SERVICES LIMITED

("Fulcrum" or the "Company")

Pre-close trading update for the six months ending 30 September 2015 and Annual General Meeting

Fulcrum Utility Services Limited ("Fulcrum" or the "Company"), the UK's market leading independent energy and multi-utility services provider, will today provide a trading update at its AGM.

Fulcrum is pleased to announce that it remains on track to meet full year expectations. The Company expects to release its interim results on 01 December 2015.

Strength in the order book:

Fulcrum has continued to win significant new contracts in H1, which include:

·     A £3.95 million contract to install a 13-kilometre gas pipeline to four Speyside distilleries on behalf of Chivas Brothers, Diageo and Ian MacLeod Distillers; and

·     A £0.5 million contract to deliver new gas infrastructure for the University of Glasgow.

Corporate milestones:
The Company is delighted to confirm its transition to directly managed delivery is being successfully embedded, underpinning the Company's service excellence and competitive advantage.

The Company is continuing to pursue its stated organic growth strategy, one aspect of which was to build its multi-utility capability and now has its first in-house dual fuel teams trained in the delivery of both gas and electricity connections.

Maiden dividend:

As previously communicated, the Board has proposed a resolution for the payment of a maiden dividend of 0.4 pence per ordinary share at the Annual General Meeting, to be held at 12.00pm today. If the resolution is passed, the maiden dividend for the 12 months ended 31 March 2015 will be paid on 30 October 2015 to all shareholders on the register as at close of business on 09 October 2015. The shares will become ex-dividend on the 08 October 2015.

Commenting at the AGM, Martin Donnachie, Chief Executive of Fulcrum stated:

"Today we are pleased to confirm to all our shareholders that results are on track to meet full year expectations. Our recent contract wins validate the investments made in our operations to continually improve customer service and endorse the trusted client relationships we have built.

We are delighted to reach the corporate milestone of recommending the payment of a maiden dividend and look forward with confidence to the future. "

Enquiries:

Fulcrum Utility Services Limited Craig Baugh, Head of Marketing and Communications Cenkos Securities plc (Nominated adviser and broker) Max Hartley (Nomad) / Oliver Baxendale (Sales) Camarco (Financial PR advisers) Ginny Pulbrook Tom Huddart

[phone] [phone] [phone]

Notes to Editors:

Fulcrum is an energy solutions company based in Sheffield, UK. The Company's primary business is the provision of unregulated utility connection services to the residential, commercial and industrial markets throughout the UK. These range from the design, installation or alteration of connections for single site properties to large complex multi-site projects. Through its subsidiary, Fulcrum Pipelines Limited, Fulcrum is also licensed as an Independent Gas Transporter, operating gas connection pipelines that connect properties to the main UK gas network.

http://www.fulcrum.co.uk/

 

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