Contractor ISG has announced its best-ever financial performance for 2018, as the company exceeds the £2bn mark for the first time
ISG has announced its best-ever financial performance, just three years after the business was taken into private ownership.
Published headline figures for 2018 show that turnover has breached £2bn for the first time in the company’s 30-year history at £2.2bn, posting £38.5m profit before tax and a £1.4bn forward order book.
ISG’s 2018 Annual Report, shows a third consecutive year of record growth and profitability for the company, which now employs around 3,000 people and operates in 24 countries across the globe.
Sustainable growth has been achieved across ISG’s Fit Out, Construction, Engineering Services and Retail operations, with the firm’s international businesses also generating record growth and profitability.
The company has seen a record level of demand for its services in Continental Europe – increasing turnover by over 100% to circa £400m.
ISG has also reported minimal impact from Brexit, with its global customer base continuing to invest strongly in London property assets.
The company’s office fit out business posted a 54% increase in revenue to a record £609m turnover.
The overall scale of projects has also increased significantly, with ISG securing and working on three projects at £200m+ and one project at £30m+ during 2018.
Paul Cossell, CEO of ISG, said: “Instead of waiting for new incumbents to disrupt our industry, ISG has used its 30 years’ experience as a market leader to tackle the productivity and cyclical financial issues that have plagued our industry for too long.
“Traditional 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.
“What’s 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.
“From 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.”
