But UK workloads hold up, firm says in latest accounts

A weaker performance from overseas markets saw profit and revenue at ISG drop last year, the firm鈥檚 latest accounts reveal.

Income in 2022 was 拢2.19bn, compared with 拢2.26bn the year before, while pre-tax profit was down 38% to 拢11.5m.

While fit-out revenue dropped across the company鈥檚 global operations, income in the UK increased marginally from 拢771m in 2021 to 拢786m last year.

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ISG鈥檚 studios scheme at Waltham Cross in Hertfordshire is believed to be worth around 拢600m

Revenue in the UK construction business, which completed high-profile projects at London Waterloo Station and at the Sky Innovation Centre last year, also grew, up to 拢1.06bn from 拢1.03bn.

Last year saw the firm increase its presence in the hyperscale construction market, securing the single largest value project in its history 鈥� a 拢600m Sunset Waltham Cross Studios development in Broxbourne, Hertfordshire.

ISG had also been involved in the stalled Britishvolt gigafactory in Northumberland before the government-backed battery firm went into administration.

Chief executive Matt Blowers said the firm had a record forward order book of 拢1.9bn.

鈥淚n addition to our traditional sectors, we are increasingly working on hyperscale schemes in growing segments, including semi-conductors, film studios, future mobility and life sciences,鈥� he added.

Average staff numbers were up to 3,079 from 2,982 in 2021. Net cash was down to 拢104.7m from 拢120m last time.

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