ISG made a pre-tax profit of 拢27.4m in 2018 on revenue of 拢2.2bn. In 2017 it made 拢9.1m on 拢1.7bn revenue.
Underlying pre-tax profit, excluding amortisation and other one-off costs, was 拢38.5m (2017: 拢28.2m).
The UK鈥檚 biggest office and shop fit-out contractor had 拢77.7m net cash in the bank at year end, up from 拢63.9m at the start of the year, and an average net cash balance during the year of 拢105.7m (2017: 拢60.2m). The order book grew during the year from 拢1.3bn to 拢1.4bn.
ISG was taken over by Cathexis, a US-owned investment fund, for 拢85m in February 2016 and de-listed from the London Stock Exchange.
The UK Construction division generated 拢520m of revenue (2017: 拢480m) and made an underlying pre-tax profit of 拢5.7m (2017: 拢6.8m). It suffered a little from project starts being delayed.
The Engineering Services business generated 拢469m revenue (2017: 293m) and underlying pre-tax profit of 拢11.7m (2017: 拢7.0m).
The firm鈥檚 UK Fit-Out business posted a 54% increase in revenue to 拢609m (2017: 拢396m) and made underlying pre-tax profit of 拢10.5m (2017: 拢6.5m).
The overall scale of projects has also increased significantly, with ISG securing and working on three projects valued at more than 拢200m and project at 拢300m+ during 2018.聽聽聽
Chief executive Paul Cossell said: 鈥淚nstead of waiting for new incumbents to disrupt our industry, ISG has used its 30 years鈥� experience as a market leader to tackle the productivity and cyclical financial issues that have plagued our industry for too long.
鈥淭raditional operating practices and central command structures do not work in our dynamic society or for agile global customers, so we have embraced change, empower our people to be creative and encourage radical thinking, with technology and innovation at our core.
鈥淲hat鈥檚 clear is that ripping up the old rule book and learning from our tech-led customers has proved transformational for our business. Our people are already generating the ideas and innovation that are proving instrumental in moving our industry forward.
鈥淔rom the launch of a new Level 3 qualification, to developing a standard component design for classrooms, or our very first filed patent for in-house developed technology, it is the quality of our people and the supportive structure around them that sets our business apart.鈥�
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