ISG revenue grows by £300m after pandemic shock

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ISG’s gross grew by astir £300m past year, representing a 15 per cent year-on-year increase, arsenic its yearly study showed signs of betterment aft the COVID-19 pandemic.

Figures published by the contractor and fit-out steadfast showed it earned £2.26bn successful gross successful 2021, astir £300m much than successful 2020 (£2.04bn). But this was inactive abbreviated of the grounds £2.59bn gross collected successful 2019.

The contractor’s bid publication astatine the extremity of 2021 stood astatine £1.6bn, up from £1.5bn successful 2020, portion its currency presumption besides improved – expanding from £101.5m successful 2020 to £119.9m successful 2021.

Pre-tax profits for the institution were besides up importantly from 2021, expanding to £18.9m, from £8.9 a twelvemonth earlier.

Company main enforcement Matt Blowers said the study showed the group’s betterment from the economical daze of the pandemic arsenic helium celebrated ISG’s “strong foundations”.

He added that the steadfast would look to physique connected its sustainability policies successful 2022, by aligning with the United Nations Sustainable Development Goals and evolving its concern strategy to absorption connected environmental, societal and governance.

Blowers argued that ISG’s quality to innovate had enabled it to “quickly re-establish its fiscal trajectory” pursuing the pandemic.

He said: “Our manufacture stepped up during the pandemic successful an outstanding show of solidarity, innovation and commitment, and we each recognise that the adjacent frontier is our effect to the increasing interaction of clime change.

“The standard of this situation is immense, and our attack indispensable beryllium multi-faceted, from attracting the brightest endowment into our sector, investing successful greater R&D spend, transforming our operation approaches and methods, [to] greater integration with our astute supply-chain partners.”

Blowers added: “Our fiscal resilience and dynamic 2021 effect underscores the value of holding existent to our imaginativeness and values, and I’m assured that we volition proceed to play a starring relation successful the ongoing translation of our industry.”

In 2021, ISG introduced its caller hybrid moving argumentation to “enhance [the] work/life balance” and “eliminate imaginable recruitment barriers” for imaginable staff. The institution besides doubled its intake of graduates and apprentices.

Last year, ISG’s yearly study showed revenue had dropped by £500m, with COVID disrupting projects and clients taking a cautious approach.