StockMarketWire.com - Fulcrum Utility Services posts a pre-tax loss of £3.4m for the six months to the end of September - up from £0.1m last time.

Revenues rose slightly to £19.5m from £19.4m but gross margins dropped to 32.5% from 40.4% and underlying earnings before interest, tax, depreciation and amortisation fell to £0.3m from £1.1m.

Chief executive Martin Donnachie said: "The six months to 30 September 2013 was a period of major change for Fulcrum as significant steps were taken to improve the performance of the business.

"Good progress has been made on improving the quality of delivery to customers and substantial reductions in operating costs have been achieved. The disposal of non-core assets in October was an important milestone realising significant value and securing the cash position of the company.

"The team has shown its commitment to delivering excellent customer service and sustained growth in sales orders through a review of the sales operation and related processes resulting in increased underlying sales. Further improvements to business systems and processes are expected to drive future growth and help Fulcrum retain its market leading position."






Story provided by StockMarketWire.com