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8 Dec 2008 07:00
Interior Services Group plc
AGM Statement and Trading Update
Roy Dantzic, Chairman of Interior Services Group plc, will make the following statement at the company's AGM which will be held later today.
"The Board is pleased to announce that trading to date in the first half of the current financial year has been in line with our expectations. Activity has remained high across the Group as ISG has continued to position itself towards more resilient regions and sectors.
The current order book stands at £1bn, a level broadly consistent with our position at the year end in July. Of this amount, £550m represents work to be completed in the current financial year and £400m for 2009/10. ISG's balance sheet remains sound and we expect to finish the half year with cash balances in line with prior year.
The recent series of economic and political events in the world are beginning to have an impact on our business. Many of our corporate clients have become more cautious in their decision making and this has led to some projects planned for the following financial year being delayed or cancelled. As to be expected, trading conditions in the UK, particularly for work due to commence in the final quarter and into the following financial year, have become more competitive.
Shareholders will next be updated on the Group Interim results for the 6 months to 31 December 2008 in March 2009.
8 December 2008
Enquiries:
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Interior Services Group plc |
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David Lawther, Chief Executive |
020 7392 5307 |
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Jonathan Houlton, Group Finance Director |
020 7392 4905 |
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Numis Securities Limited |
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Nominated Advisor: Michael Meade/Simon Blank |
020 7260 1000 |
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Corporate Broking: Rupert Krefting |
020 7260 1000 |
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College Hill |
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Matthew Smallwood |
020 7457 2020 |
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Adam Aljewicz |
020 7457 2020 |
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