Contractor says London fit-out sector is showing recovery but warns of delays in overseas markets
ISG has announced that UK trading is “strongly ahead of expectations”.
The London fit-out business saw some recovery, though the firm said that margins were under pressure due to competition. The retail business stayed steady with margins improving.
In a trading statement the firm said its order book fell 10% to £740m for the year ending 30 June 2010. It said it expected to finish the year with a cash position of £28m.
However, overseas the firm reported delays to the start of some projects. The Japanese market in particular had shown no sign of recovery, which had lead to ISG ending its operations in Japan with a loss of £800,000 for the year.
Preliminary results are due to be announced on 8 September 2010.