- UK-based energy solutions specialist Fulcrum Utility Services posts pre-tax losses of £1.0m for the year to the end of March - down from £5.6m last time.

Revenues fell to £38.8m from £41.0m but Fulcrum reports underlying earnings before interest, tax, depreciation and amortisation of £1.3m against a loss of £2.1m a year ago.

Operating losses before exceptional items fell to £0.19m from £3.5m.

Chairman Phil Holder said: "The performance of Fulcrum over the past year has been slower than anticipated against a backdrop of a challenging construction sector and generally constrained demand for utility connections.

"This is reflected in a disappointing sales performance with the progress of the business having been considerably slower than the board had hoped. However the company has achieved significant progress in delivering a robust gross profit margin and further efficiencies in the operating cost base."

At 8:30am: [LON:FCRM] share price was -1.13p at 7p

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