Contractor's pre-tax profit reaches £6.5m, while fee income doubles to £81.7m
Contractor Interior Services Group has announced a 54% leap in profits over the past year, as the group was boosted by a recovery in the commercial office market.
The group reported pre-tax profits of £6.5m for the year ended 30 June 2006, compared with £4.3m the previous year. Fee income almost doubled over the same period to £81.7m, helped by the successful integration of the Propencity Group into the business.
David Lawther, ISG chief executive, said: “Our strategy to diversify into the regions and to broaden our service offering to customers in different market sectors is going well. We now have a much more balanced business with strong regional coverage. We are in an excellent shape to benefit from the growth opportunities that our markets offer.”
The Propencity Group, which includes Totty Construction, Jackson Construction and Dean and Bowes, contributed £1.6m to ISG’s profis before tax and goodwill for the nine-month period since it was acquired.