Fulcrum Utility Services... Share Discussion Threads

[topvest] 27/10/2017 18:11

Nice dividend received today. About 20% yield on May original purchase price.

[buying] 27/10/2017 09:46

My buy is showing as a sell

[topvest] 22/10/2017 18:10

What peers do you have in mind? I'm not aware of any listed comparator to Fulcrum. They are not a long term construction contract company.

[ivancampo] 19/10/2017 17:22

Massively overvalued compared to peers.

[sphere25] 19/10/2017 17:09

Tipped by Naked Trader (Robbie Burns).

[ivancampo] 27/9/2017 14:04

Order book £33m. Market cap £89m. I can't see the valuation.

[andrewjones88] 02/8/2017 14:31

Soon to have ownership of electrical distribution assets too. This year hopefully!

[mrnumpty] 02/8/2017 12:50

Stockopedia have an article today by Roland Head . He comments that he did not invest in Fulcrum last year , which he obviously regrets . He now comments that " ... after disappearing from my screen for most of the year , Fulcrum is back " ! He points out that , whilst Fulcrum's market has been cyclical , being dependent on one-off developments , this is increasingly being mitigated by reliable income from the ownership of gas distribution pipes .

[ducatiman] 31/7/2017 20:21

I remember telling you about them sideshow!! Wish I had been able to hold but RBS and GMA put paid to that idea, lol.

[topvest] 31/7/2017 18:58

Looks like both are for tax reasons. Happy to hold. Think the strategy is good and the future pretty bright.

[jeanesy] 31/7/2017 16:38

Would have expected more of a drop with the director sales of over a million shares.

[penpont] 06/6/2017 23:50

Finncap today commented :

Fulcrum (FCRM): Converting a large market opportunity (BUY)
Fulcrum has reported a strong set of FY 2017 results with adjusted EPS up 41% (our forecast 35%, as below). This progress was driven by a 4% increase in sales and operating margins rising from 12.6% to 17.7%. Cash flow remainedstrong with net cash now £12.6m. The order book is up 39% on last year supporting a continued positive outlook and we believe there is positive pressure on our forecasts. With the core utility connections business continuing to convert the
sizeable market opportunity and an increasing contribution from asset ownership we reiterate our Buy recommendation.



IC also commented briefly with a continued buy rec.

[ivancampo] 06/6/2017 19:35

Just my view. Apologies, appreciate how it came across.

[soundsplausible] 06/6/2017 18:59

I was disappointed in the figures today. In the pre-close trading statement the company stated it had "performed strongly", so the slightly higher turnover figure (up by 4.4%) did not align to a strong performance. A strong performance (for me) would have double digit revenue growth. The increased profit was better as it shows they are improving margins.

Perhaps the past two years are a sign of the management getting the model right, showing the profits are there. They really need to win more bids, driving growth and subsequently higher turnover and profits.

I am now sitting on the sidelines to see what those with more knowledge than me (looking for newspapers and other publications), to write up their thoughts.
Just now I am slightly deflated.

[ivancampo] 06/6/2017 10:34

Massively overvalued

[ivancampo] 06/6/2017 10:34

Smoke and mirrors

[euclid5] 01/4/2017 18:54

Amazing, such a quality co that's delivered the goods with no proactive investor constant interviews required

[...]

[euclid5] 01/4/2017 18:42

Ironically there was not much BB chatter on this co 2-3 years ago when they were sub 10p....that's also another strong indcator, not buying into the so called top discussion leader shares

[euclid5] 01/4/2017 18:40

Topvest, if it's any consolation, I had 200k of these at 5p, but got impatient as a more active trader & sold them at 7p

Just proved you can definitely find huge hidden gems on AIM with the right in depth research. Rather than many short term traders chasing every wave trying to catch a large wave winner

[essential] 21/2/2017 13:46

Just bought into these - looking strong technically and a stockopedia score of 72

[penpont] 13/12/2016 08:17

From IC last week:
Investors who sent Fulcrum Utility 's (FCRM) share price down 3 per cent following the half-year results announcement were, perhaps, overly focused on the top line. Ignore the relatively flat revenue performance and this is another impressive set of numbers. The gross margin widened by 8 percentage points, helping to double pre-tax profit and providing £3.8m of net cash from operations (£0.1m in FY2016). Given the strong cash generation, management has taken the decision to adopt a formal dividend policy that aims to pay out approximately half of net profits to shareholders.

Having enhanced the operational capacity of the business, management is focused on growing the top line. The period-end order book stood at £24.4m - up 12 per cent on that booked by the end of March.
The increase reflected a string of contracts, including a £4m deal to install a new gas pipeline to a large food manufacturing plant in the south-west. "We have the capacity to deliver 12 of these large contracts at one time," says chief executive Martin Donnachie. But the company is not relying on this headroom for growth: rather, it is expanding its offering by applying for a licence to own and operate electrical assets in a similar way to its gas network. Annualised gas transportation income also grew to £1.5m.
Broker Cenkos expects pre-tax profits of £6.4m for the year to March 2017, giving EPS of 3.4p (from £4.6m and 2.6p in FY2016).


IC VIEW:
The ownership of gas pipelines and meters gives Fulcrum a very secure revenue stream. Shares trading on 15 times forward earnings look good value for the growth on offer. Buy.
Last IC view: Buy, 41p, 7 Jun 2016