Interior Services Group (ISG) said this week that demand for its services remained “robust” despite the delay to top end London schemes anticipated as a result of the credit crunch.
The company reported pre-tax profit of £10.6m for the year to 30 June, up 30% from the previous year. Turnover rose to £767.2m from £628.4m, with particular growth in Asian operations.
David Lawther, chief executive, said that although demand for fit-out, one of the company’s major sectors, was mostly strong, opportunities on large City schemes was falling, owing to “uncertainty in the financial markets”.
However, he said the company was increasing its focus on smaller London fit-out contracts to protect itself from the delay to top end schemes predicted as a result of the credit crunch.
Lawther also revealed that ISG is set to increase its regional presence with the acquisition of a southern contractor.
He said the company was in due diligence over the target contractor and expected to complete a deal at the end of October.