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.

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".

Recommended

The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
23 Jan 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023
The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into accord…
5 Jan 2023
Investing trends to watch out for in 2023: what analysts say
Investment strategy

Investing trends to watch out for in 2023: what analysts say

What are sensible strategies for high inflationary times? We ask analysts to find out.
22 Dec 2022

Most Popular

House prices could fall 30%. Should investors be worried about a repeat of 2008?
Investments

House prices could fall 30%. Should investors be worried about a repeat of 2008?

Some analysts are predicting that house prices could fall as much as 30%, which, when compared to the fact that prices have jumped 28% since April 201…
24 Jan 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Wholesale gas prices are on a downward trajectory, but does this mean lower energy bills later this year?
27 Jan 2023
Council tax increases 2023 – how much more will you pay?
Tax

Council tax increases 2023 – how much more will you pay?

Your council tax bill will go up in April - we reveal the councils that have confirmed what this year’s increase will be.
23 Jan 2023