Fulcrum Utility tumbles on interim loss outlook

Fulcrum Utility Services

24/10/2022 09:29

** Shares of energy connections provider Fulcrum Utility
Services  FCRM.L  down 38% at 3.65p - lowest level since Nov.
2013
    ** Co expects to turn to losses in HY due to impact of
ongoing energy crisis and wider market condition
    ** Group sees HY adjusted core loss of about 3 mln pounds
($3.40 million), compared with a core profit of 1 mln a year ago
    ** Sees HY revenue of about 24 mln pounds vs 28.6 mln pound
a year earlier
    ** Group expects revenue for FY 2023 to be about 49 mln,
below previous year's 61.8 mln pounds, with adjusted core loss
of around 6 mln pounds, compared with a core profit of 0.5 mln
pounds in 2022
    ** Stock down ~68% YTD
($1 = 0.8828 pounds)
 (Reporting by Radhika Anilkumar in Bengaluru)
 ((Radhika.Anilkumar@thomsonreuters.com))