By BFN News | 07:31 AM | Tuesday 02 December, 2014
Fulcrum Utility Services - the UK based energy solutions company -posts a pre-tax loss of £0,2m for the six months to the end of September, down from £3,4m last time. Revenues fell to £16.8m from £19.5m but gross margins improved to 27,1% from 25.7% and underlying earnings before interest, tax, depreciation and amortisation rose to £0.9m from £0.3m. Chief executive Martin Donnachie said:"The six months to 30 September 2014 has seen Fulcrum transition to a profitable business model that offers an enhanced proposition for our customers. "The actions taken during the period represent a significant stage in Fulcrum's journey to become the UK's most trusted utilities service provider. Implementing our new operating model provides us with a unique streamlined end-to-end nationwide service and customers, such as British Gas, have welcomed the clear ownership and improved communication. "Our cost base is now in a position where we can produce consistent profits at the levels of turnover we are currently delivering. The remainder of 2014 will see the conclusion of the transition phase of Fulcrum's development and the focus will move to driving growth in 2015." Story provided by StockMarketWire.
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