Fulcrum provides gas connections and independent gas transportation services.
The company posted a pretax loss of
Revenues were hit by the sale of some of its domestic pipeline assets in
In the previous year the company saw a one-off release of
As a result, the company's gross margin declined to 24.8% from 31.6%.
Fulcrum said it had made substantial progress in reducing its cost base, scaling back its senior management team, and reviewing other costs. The company has reduced its overheads by
The company said it entered the 2014/2015 year with a solid order book, and believes that its restructuring will produce a business model where it can made a decent profit at its current level of turnover. If it can achieve sales growth beyond this, Fulcrum said, it will produce extra gross margin with a minimal increase in overheads.
Fulcrum's key focus for the year will be delivering more major projects, taking advantage of the reinvigorated house building market, expanding its multi-utility offering and developing its web-based sales channel, it said.
Shares in Fulcrum were trading down 1.8% at
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