StockMarketWire.com - Utility infrastructure and services provider Fulcrum Utility Services swung to a first-half loss after its revenue fell by about a fifth.

The company also announced that it had agreed to sell its domestic customer gas connection assets, including the order book and associated meters, to ES Pipelines for about £33m.

Pre-tax losses for the six months through September amounted to £0.9m, compared to a profit of £2.6m on-year. Revenue fell 21% to £19.5m.

Fulcrum said it had deferred its interim dividend deferred until completion of the the sale of the domestic gas assets.

'Performance in the first half has been impacted by ongoing economic uncertainty but, positively, the group has recently seen improved sales order intake in the third quarter,' chairman Phil Holder said.

'In addition, we are hopeful that the general election result will reduce economic and political uncertainty, providing greater clarity and improving decision making on contracts.'


At 2:53pm: [LON:FCRM] Fulcrum Utility Services Ltd share price was -2.75p at 24.75p



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