ISG.L Regulatory News (ISG)

3 Jul 2007 07:01

Interior Services Group PLC03 July 2007 Interior Services Group plc Trading Update Interior Services Group plc ("ISG"), the construction services specialist, istoday updating investors on trading prior to its close period, ahead ofannouncing its results for the year ended 30 June 2007. The Group will announceits preliminary results on 11 September 2007. Current trading remains positive and in line with the Board's expectations. As aresult of increased turnover, improving margins and the contribution from therecent acquisitions, profits have continued to grow while the Group's forwardorder book has been maintained. We are continuing to experience a strong demandfor our services in both the UK and overseas markets where we operate. Our strategy remains focused on growth, both organically and by acquisition, ofcomplementary businesses. In April we completed the acquisition of CathedralContracts, a UK retail fit out specialist, for £11.8m. In May we added a nicheaddition to our Asian capabilities by acquiring Commtech Asia, a technicalconsultancy business, for £1.1m. ISG is pleased to report that trading in bothoperations is currently in line with expectations. We have just agreed terms and signed Heads of Terms to plan to own a 100%interest in Interior Alpha SA (IASA), a French company offering fit out servicesacross Europe, in which we currently hold 20%. For the year ended June 2006,IASA reported an audited profit before tax of £1.4m on turnover of £14.1m. Sincethis date, it has continued to expand its activities across Europe, servicingclients in Amsterdam, Copenhagen, Geneva, Zurich, Luxembourg and Milan. Whiledue diligence is ongoing we expect to complete this project in the Autumn. Looking forward, the outlook for the Group in 2007/08 is encouraging. Trading inthe core London market remains buoyant and with the completion of the fit outacquisitions in retail and overseas, we are well positioned to see continuedgrowth. David Lawther, Chief Executive of ISG, commented, " It has been a significant year of step change for the Group. We have expandedour activities in the overseas growth markets while continuing to strengthen ourposition in the UK construction markets. Throughout we have maintained our focuson high quality delivery exemplified by such projects as the refurbishment ofRoyal Festival Hall which was completed in May." - ends - Date: 3 July 2007 For further information contact: Interior Services Group PLCDavid Lawther, Chief Executive 020 7392 5307Jonathan Houlton, Group Finance Director 020 7392 4905Web: www.isgplc.com cityPROFILE Simon CourtenayWilliam Attwell 020 7448 3244 This information is provided by RNS The company news service from the London Stock Exchange