ISG reports £1bn sales

Fit-out contractor Interior Services Group, which has offices in Chorley, Liverpool and Salford Quays, reported increased revenue and profit in the year to the end of June.

Revenue rose from £972m in 2010 to £1.2bn this year. Profit before tax was up slightly from £8.7m to £9.0m. ISG said it held net cash on 30 June of £36.1m compared to £31.0m a year earlier.

David Lawther, chief executive officer, said: "We are very pleased with these results, which have been delivered against a global economic backdrop which continues to be challenging. We are successfully implementing our strategy of broadening and deepening our service offering, which will enable us to win a greater volume of work, especially with repeat customers and overseas.

"The order book is stable, of a high quality and is increasingly weighted towards the private sector. We believe we will continue to weather the continuing uncertainty in the UK economy, and that we are very well placed to grow as the UK and the global economies start to recover."

The UK business contributed around one third of turnover for the group, which is also active in Asia and Continental Europe.

Highlights for the period included appointment to the North West Construction Hub and Neptune Developments' framework as well as a £4.4m contract to fit out a new sixth form college in Altrincham.

Nationally, ISG completed the Olympic velodrome and won a place on Morrison's first ever contractor framework. The firm is working with all four of the main supermarket chains. Revenue from UK food retail increased by 84% to £218m (2010: £119m).

The UK order book stands at £140m (2010: £113m). A total dividend of 15p is proposed, up from 14p a share last year.

Shares in ISG were down 2.5% at 175p at 1pm on Tuesday.

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