Good times return for Interior Services

 Interior Services Group's (ISG) latest annual financial results show a doubling in pre-tax profit. The improvement "marks the end of the recent downturn in our performance", said chairman Roy Dantzic.

In the 12 months to 30 June 2005, ISG notched up a pre-tax profit of 4.2m (2.3m) with turnover little changed at 350m (360m). Three-quarters of the profit came in the second part of the year. "The upturn was a remarkable achievement helped by the commencement on site of a number of major contracts," Dantzic said.

"During the year, the board focused on ways to counterbalance the group's strength in, and reliance on, the London fit-out and commercial office markets.

"The volatility of these markets has been the major cause for the marked drop in profit over the past two years," Dantzic said.
ISG's battle-plan has been to add refurbishment and new build to its range of skills, rather than operate as only a fit-out player.

The group has also reorganised its regional offices, which are centred in Manchester. It is looking for acquisitions in the area selected for expansion, which is the triangle bounded by Manchester, Leeds and Birmingham.