ISG鈥檚 UK Construction business saw its revenues reduced by 17% in the first half to 拢234m (2012: 拢280m), due to the previous year鈥檚 performance being inflated by the London 2012 Games.
The whole group, however, grew its revenues by 8% to 拢708m (2012: 拢659m) and underlying profit before tax increased by 29% to 拢4.9m (2012: 拢3.8m). Reported pre-tax profit was up 7% to 拢2.4m (2012: 拢2.2m).
ISG鈥檚 Middle East revenue was up at 拢13m (2012: 拢10m), with underlying operating profit improving to 拢0.1m (2012: loss of 拢0.3m).
In Asia revenue increased to 拢42m (2012: 拢35m), with operating profits also up at 拢1.1m (2012: 拢0.7m).
Chief executive David Lawther said the company鈥檚 strategy was working. 鈥淭here is a marked improvement in confidence in our core London office fit-out market, where we are strategically positioned as the clear market leader,鈥� he said.
鈥淲e have also maintained our leadership position in the UK retail market, and this sector is a focus for growth overseas.聽 Additionally, our strategy to diversify our business during the economic downturn has underpinned the development of significant new revenue streams.聽 For example, the investment we have made in developing our Engineering Services business has enabled us to establish our position as an international provider in the data centre sector.聽 The international hospitality sector is also providing a new revenue stream and we anticipate continued growth in this area going forward.鈥�
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