Shares down almost 20% in early trading

Contractor ISG issued a profit warning this morning as delayed and cancelled contracts hit margins at its retail division.

ISG said the hit would result in profit down £3m at its retail division for this financial year.

Shares at the contractor were trading around 18% down in early trading on the London stock exchange this morning.

Real-time Share Price
Real-time Share Price

ISG said it will continue to diversify its earnings base away from the UK towards overseas businesses, which it expects to contribute 35% of profit for 2012.

The company said trading for the first half ended December was in line with its expectations.