Fulcrum toasts whisky contract
Fulcrum Utility Services said it had secured a 'landmark' contract with whisky makers in the highlands of Scotland.
Fulcrum Utility Services said it had secured a 'landmark' contract with whisky makers in the highlands of Scotland.
The firm has signed a deal with Chivas Brothers and Angus Dundee Distillers to provide gas infrastructure to four distilleries in the Speyside region to support their conversion from heavy fuel oil to gas.
The £7.6m contract, beginning immediately, will be delivered by Fulcrum over an 18-month period.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The Cayman Island-registered company said the contract underpinned the board's view that full year performance would be in line with current market expectations.
Chief Executive John Spellman said despite a backdrop of macro-economic uncertainty, there continued to be significant opportunities that Fulcrum was well-positioned to secure.
"The contract win is a further endorsement of our renewed business model focused on providing high quality customer service and the expertise to deliver large scale, complex engineering projects," he said.
The business has been undergoing a turnaround strategy since it was bought from the National Grid in July 2010, with the new management trying to change what it called an "inefficient cost base and operating model".
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?
Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
By Kalpana Fitzpatrick Published
-
What does Rachel Reeves’s plan for growth mean for UK investors?
Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
By Katie Williams Published