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ISG trading in line with expectations

Interior Services Group said its trading in line with board expectations for the year ended 30 June 2009.

In a trading statement to the stock exchange today the firm said stronger trading in its retail and regional business driven by frameworks with banks and food retailers and by public sector had offset the anticipated decline in London fit-out and refurbishment.

ISG’s order book stands over £800 million, with £680 million relating to the financial year ending 30 June 2010.

The firm said: “ISG’s balance sheet remains sound and we expect to finish the year with a strong cash position.”

ISG will continue to focus on more resilient regions and sectors and ensure that its resource base where a decline in activity is expected remains in line.

The firm said: “As previously noted, some of our clients, particularly those operating across several countries, have become more cautious in the wake of Lehman’s collapse.

“Consequently, there have been a few cancellations and some delay to certain projects particularly affecting our European operations. Elsewhere overseas, particularly in China, we are experiencing good levels of activity.”

ISG will announce its preliminary results on 8 September 2009.