29 March 2018
ISG has posted a record financial performance in its second year as a privately-owned business.
The international construction services company has revealed headline results that show an increase in turnover to £1.7 billion, underlying profit at a record £28.2 million and a net cash position of £63.9 million.
ISG’s forward order book has increased to £1.3 billion, and the company continues to make significant investments in both infrastructure and its people to support predicted growth in 2018 and beyond.
Retaining its leadership position as London’s number one office fit out contractor, the company has continued to refine its focus on its core specialisms and industry sectors to deliver an unbeatable customer experience.
ISG’s engineering-led and technology-led construction offers continue to resonate with a growing and international customer base that demands innovative and highly-specialised solutions.
ISG has a lead role in climate stewardship, maintaining its 'A-' CDP climate change score for the second year running, placing the business in joint first place within the wider industry.
The company’s commitment to enforcing the most rigorous health and safety standards remains steadfast, and in 2017 ISG again reported a class-leading performance, with an Accident Incident Rate (AIR) of 1.32 – well below the average for the 23 largest UK construction companies of 4.27.
The business backed up this excellent performance with a haul of seven Gold Awards, one Gold Medal and five President Awards from RoSPA, alongside seven British Safety Council (BSC) International Safety Awards.
Paul Cossell, CEO of ISG, commented: “Reporting on our best ever financial performance is a key milestone in ISG’s history and a real testament to an outstanding team effort from every single person within our organisation. We have a clear strategic vision and an absolute focus on playing to our core strengths, expertise and specialisms to ensure we do the very best by our customers and our people.”
ISG carried out a comprehensive employee engagement survey during 2017 to help inform and shape how the business continues to offer an unbeatable employment experience. The results have been extremely encouraging, with 93% of respondents believing they can make a valuable contribution to the success of the company, 85% proud to work for ISG and 79% excited by where the organisation is going.
Mark Stockton, ISG’s CFO, added: “Building on the momentum of a successful first year as a private business, our 2017 performance sets the trajectory for sustained growth and profitability in 2018 and further ahead.
"Strengthening our financial position and making the right investments that will support our planned growth has been a central theme of 2017, during which time we have repaid a £30 m loan to our parent company and invested circa £3.3 million in our IT infrastructure.”
Paul Cossell, concluded: “I’m also pleased to announce that in 2017 we breached the 25% threshold for women employed across our business, but we can and must do so much more to ensure the broader diversity of our workforce, particularly in senior roles.
"This year we signed the Young Women’s Trust’s pledge, to help more young women into apprenticeships and signed up to the Apprentice Diversity Champions Network, to encourage more people from under-represented groups, including those with disabilities, women and members of the black, Asian and minority ethnic (BAME) communities, to consider apprenticeships. Diversity will continue to be a focus for our future strategy.”