Revenues were up 31% on the same period the year before, to 拢635m. Pre-tax profit was up nearly 73% to 拢4.5m, from 拢2.6m last time.
The UK Fit Out division saw revenues up 39% to 拢193m (2009: 拢139m) although margins deteriorated from 2.7% to 1.7% because of 鈥渃ompetitive pressures鈥�.
The Europe Fit Out division more than tripled its revenues to 拢41m (2009: 拢13m), driven by multinational UK clients taking ISG overseas.
Chief executive David Lawther said: "This is a strong performance, especially in the UK. 聽We expect to see a more complete recovery of the London fit out market as we move through 2012.聽 Our blue chip client base will go on providing demand outside the UK. 聽We are emerging from the recession in good health with strong finances, diverse revenue streams and market leading positions in commercial office fit out, food retail and retail banking. 聽We will continue to target growth both organically and via acquisition."
He added: 鈥淭here have been signs of recovery in some of our markets, though the trading environment continues to be challenging overall. 聽I am also pleased to report further progress in building on our geographic spread and service offering in our key markets.聽
鈥淭he overall picture is one of revenues increasing, which is offsetting pressure from tighter margins.聽 Our business continues to be 80% weighted by profits towards the private sector. 聽The commercial office fit out market in London has shown good signs of recovery, though the overall trend is currently towards smaller projects and refurbishment.聽 Both our retail banking fit out and food retail markets are particularly strong with revenues in these areas significantly increased.
Against a backdrop of a highly challenging market, our construction business has held its position when compared to last year with revenue of 拢248m (2009: 拢244m) - though margins continue to be under pressure. 聽Operating profit for the period stands at 拢2.3m (2009: 拢3.2m) with operating margins standing at 0.9% (2009: 1.3%).鈥�
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