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ISG swings to profit of 14.2 million pounds

Staff writer ▼ | September 8, 2015
ISG plc, an international construction services group, announces its final results for the year ended June 30, 2015. After reporting an underlying loss in the first half of £7.2m, the group delivered an underlying profit of £14.2m in the second half of the year.
ISG plc
ISG plc   UK Retail is maintaining its market leading position
Overall performance of specialist fit out, engineering services and retail businesses in the UK and overseas up by 50%.

Other highlights

UK Fit Out and Engineering Services operating profit increased by 62%

London fit out market robust with a strong order book and pipeline

Continued growth in Engineering Services - currently working on over £0.8bn worth of data centers across Europe

UK Retail maintaining its market leading position and investing in Realys consultancy offering

Strengthening performance in Asia and Middle East on back of growing reputation

UK Construction underlying results materially affected by sizeable losses on a limited number of contracts taken on during 2012 and 2013. Closure of its Tonbridge and London Exclusive Residential activities

Net cash balance improved to £52.7m at 30 June 2015 (2014: £46.3m)

Equity placing completed in March raised net proceeds of £16m to support balance sheet and future growth opportunities

Order book ahead by 14% at £1,118m (2014 restated1,2: £984m) of which £1,030m (2014 restated1,2: £899m) is for delivery in the current year

Recommended final dividend of 5.00p (2014: 4.91p) having waived interim dividend (2014: 4.54p).