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  • You are here:ISG

ISG's order book up 20% in 'confident' trading statement

ISG’s orders have risen by a fifth in the past 12 months, the firm has announced.

The company said its order book had grown to £915m in October 2013 from £761m in the same month last year. It said £686m of the latest total would be built in the current financial year.

In the trading statement, which covered the period from 1 July to 5 December 2013, the firm said it expected net cash to be more than £30m by the end of December – up from £25.3m at the same point in 2012.

It did not give anticipated figures for profit or revenue but said it remained “confident of meeting the board’s expectations for the full year”.

ISG said opportunities were improving in UK construction and pointed to its recent contract wins for Diageo, Blackstone and Amazon Property, and its reappointment to the South West Construction Hub framework.

Construction News revealed in October that Bam Construction, Builders Consortium South West, Interserve, Kier, JB Leadbitter, Mansell Construction Services, Midas, Morgan Sindall, Wates and Willmott Dixon had also been appointed to the South-west deal.

ISG said it will focus on repeat orders and increasing its market share with customers and on frameworks.

The company’s fit-out and engineering services business is working on five London fit-out projects with a combined value of more than £170m and has won data centre contracts in the Nordic region.

In UK retail it is building new shops, extensions and refurbishments through frameworks for banks and retailers such as Hackett, John Lewis, Pret a Manger and Primark.

Overseas it said the Middle East and Asia were improving, but continental Europe continued to be “subdued”.

ISG said it will focus on large and emerging cities in the UK and abroad.

The firm announced that senior independent director John Barnes has stepped down as non-executive director of the company after nine years on the board. Richard Mully has replaced Mr Barnes as senior independent director.

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