Although the number of larger projects has fallen, the fit-out specialist’s order book for delivery in the current financial year has been maintained at £520m, up from £502m at this time last year. The Total order book stand is down a little at £700m, compared to £755m this time last year.
ISG directors say that the balance sheet remains sound, with £30m net cash.
The London Fit Out business has seen “a steady pipeline of opportunities of small to medium sized projects” though bidding is fierce and margins tight. The Retail Fit Out and Food Retail businesses, through their focus on financial and food retail sectors, have received strong allocations under their frameworks for the calendar year 2011.
The company’s UK Construction business is also expected to maintain revenues at last year’s level, but at lower margins.
Overseas, it has seen a strong recovery in the Parisian office market, and has been busy across Europe. Demand in the UAE has increased, while Asia is steady.