30th June 2009

Interior Services Group PLC

Pre Close Trading Statement

The Board of ISG is pleased to announce that trading for the year ended 30 June 2009 has remained in line with the Board's expectations.

The Board is pleased to note that the success of the group's diversification strategy has ensured that the decline anticipated in London fit out and refurbishment has been offset by stronger trading in our Retail and Regional businesses which has been driven by our frameworks with banks and food retailers and by public sector work.

The group's strategy remains to position itself towards more resilient regions and sectors and where a decline in activity is anticipated, to ensure the group's resource base remains in line.

As previously noted, some of our clients, particularly those operating across several countries, have become more cautious in the wake of Lehman's collapse. Consequently, there have been a few cancellations and some delay to certain projects particularly affecting our European operations. Elsewhere overseas, particularly in China, we are experiencing good levels of activity and continue to establish and position ourselves to win projects in growing markets of which Abu Dhabi is an excellent recent example. Since March 2009 we have started to see corporate clients becoming more confident and both enquiry levels and proposals intake have started to improve for our overseas activities.

At the interim stage we reported that the order book would reduce as the longer lead time UK fit out, new build and refurbishment projects in the UK are replaced with higher margin, negotiated work across our Retail business and in Europe and Asia. The current order book stands above �800m, of which �680m relates to the financial year ending 30 June 2010. ISG's balance sheet remains sound and we expect to finish the year with a strong cash position.

The preliminary results will be announced on 8 September 2009.

Current PE of less than 5 and a forecast dividend of nearly 10% !

Just me then ... stuff the lot of you.

:-)

Dil - will this be a fiver by Christmas? :-)

Nah ... about 220p by November :-)

My views FWIW - not a holder. Business is profitable and like any good contractor does not need to borrow. Net cash represents over 50% of market cap. Gross margins on last figures however are thin at just over 5% and operating profit margins not much over 1%, so not a lot of room for error. My favourite contractor is the much larger KIE, although currently not in that either, which had gross margin of around 9% and operating profit approx 2.5% on latest figures. Not directly comparable as KIE also has a housebuilding arm, but it would be my preference. Will watch ISG as not without speculative attractions and imo better chance than most on these boards.

Ticking up.

I like the look of this too ,good fundies and the divi..

Ticking up again.

Nice gap to fill at 175-185p.

Breaking out , next stop 200p ,

Yup finally moving..

Target upped , 260p by xmas :-)

1p a day and we should just manage it in the given time frame.

Anyone else in ?

Just me then , looks ready for next step up but what would I know.

I've been dithering with this one and can't think why! Seems pretty sound to me.

Know how you feel , almost bought some more on last weeks pull back and bottled it.

I know how you feel i sold ,for a profit i might add .
Kim stop dithering !!

Edit ,i see its up 9p dam...another pullback i may be back in, ,,,good call Dil

I did stop dithering Jimmy, but just as I was about to press the buy button, switched to KDD which I thought showed more short term promise! Hmm, remains to be seen if I was right, so far so good but as soon as able, I am determined to pop some of the profit (if any by the time I come to offload some KDD!) in to this one 'cos I like it!!

I dithered and sold :-(

Tut, tut! ;o)

Nice results , onwards and upwards.

Yep, increased divi too. Not bad at all!

Oooooo 200p by Friday :-)

What's wrong with tomorrow and Thursday then?! ;o)

Well isn't that by Friday ?

:-)

Smartarse!! Lol ;o)

You could have mentioned these earlier, Dil. ;-)))

He did when they were 145p...

;-0

202p to buy kim :-)


At curent price , PE less than 7 and divi just under 7% ... still cheap as chips.

Agreed. ;-))

Still dithering, messing with PXS at the moment, it's been very tradable! Looks like it could go nuts again today. MUST make a decision here though! :o)

I've missed this rise so will watch for a pullback. Risk/reward too high for me now.

The 195/202 spread is a bit too much for me at the moment. L2 looks like it is beginning to get a bit twitchy though.

Yep , better to wait for a breakout from here Al then another easy 20% I reckon.

Bullish agm whenever that is may do the trick.

AGM is on 4th December Dil.

Ta kim ... 260p by xmas then :-)

Probably, I hope I've made my mind up by then!!

About time these woke up.

Dil - if you have sobered up after the weekend :-) Do you still follow these?
ex dividend 19th, yield 8.78%.

ISG delivers landmark luxury store for Louis Vuitton in Singapore

ISG AWARDED ADDITIONAL LONDON 2012 OLYMPIC OVERLAY WORKS

ISG has been successful in securing the remaining Construction Management contract for the Off-Park and Non-Competition Venues, including associated site works and infrastructure. This is in addition to having been awarded in July 2011 the On-Park construction works for the London 2012 Games by the London Organising Committee of the Olympic and Paralympic Games (LOCOG).

Given up on all small caps for time being just watching and waiting and picking up the odd "bargain" large cap (BT.A , BARC) for the SIPP on bad days.

If you had sobered up and answered my post 40 earlier, I may have bought - the yield (ex divi next Wednesday) was 8.86% at 170p. Good luck at the weekend BTW :-))

Won't need luck skinny .... France will :-)

Ex dividend tomorrow - 10p.

RNS Number : 0000R

Interior Services Group PLC

28 October 2011

Interior Services Group PLC

("ISG" or "the Group")

Acquisition of the French branch of Paris based retail design and fit out company Alpha International SARL

ISG is pleased to announce that it has completed the acquisition of the goodwill and business assets of the French branch of Alpha International SARL ("Alpha") for an initial consideration of GBP1.5m. The maximum consideration of EUR8.5m (GBP7.4m) is dependant upon future performance. Alpha is a retail design and fit out specialist based in Paris servicing international retail companies. The principal vendor, Andre Bernstein, will remain with the business.

Alpha has delivered multiple projects for an impressive client list including Apple, Louis Vuitton, Uniqlo, Gucci, Tiffany & Co. and Patek Phillipe. In addition to its core French market, Alpha has also delivered projects for clients in Italy and Switzerland.

Alpha's turnover for the year ended 31 October 2010 was approximately GBP6.5m and generated a contribution of approximately GBP0.2m. Alpha has net assets of approximately GBP0.4m at completion and employs 20 people.

The acquisition of Alpha will enable ISG to:

-- Accelerate the growth of ISG's existing European retail fit out business;
-- Provide a design and fit out turnkey solution for the Group's international retail customers in France and Italy;

-- Further strengthen its management team with people who have a successful retail design and fit out track record in Europe.

At completion GBP1.5m will be paid in cash. A maximum further consideration of approximately GBP5.9m is deferred and payable after the two financial years to 30 June 2013, conditional on the business meeting average profit before tax targets for the two years. The deferred consideration will be settled 80% in cash and the balance in new ISG ordinary shares.

ISG's existing European retail fit out offering is being integrated with Alpha, and Andre Bernstein, with his 30 years of retail experience, has been appointed Managing Director of the combined European retail fit out business.

AGM Statement.

The Board is pleased to announce that, against a difficult economic background, trading for the period has remained resilient. Revenues in the period have been maintained albeit with margins remaining under pressure. We continue to benefit from our 80% exposure to the private sector and our strategic decision to expand into retail and overseas in recent years.

Our order book for delivery in the current period increased by 7% to 573m (October 2010: 533m) despite the reduction in the number of larger sized projects in the market, with the total order book standing at 709m (October 2010: 690m). Our balance sheet remains robust and we anticipate a net cash position of approximately 25m at December 2011 (December 2010: 37m).

Our London Fit Out business, despite a competitive market, has maintained its revenues and is still securing a steady pipeline of smaller sized projects, helped by our focus on quality of delivery. We continue to expand and improve our reputation and offer in the technology, high-end residential and hotel sectors.

Our Retail Fit Out and Food Retail businesses have maintained their market leading positions and are receiving strong allocations under their client frameworks for the current financial year. In the period we have successfully added new framework relationships with the John Lewis Partnership, Nationwide Building Society and Everything Everywhere.

We expect our UK Construction business to maintain revenues in line with last year, but at lower margins. The increased allocations from the London Organising Committee of the Olympic and Paralympic Games (LOCOG) together with other positive trends in our London business will benefit us in the second half. Regional disparities continue to widen with the South East and London enjoying a markedly stronger flow of work opportunities that will allow us to offset the significant negative problems we previously identified in the South West. As a consequence of this disparity we have also downsized our North East business and discontinued our Affordable Housing activity in the South West. We expect the remainder of the South West business to return to profitable trading by the year end.

In line with our stated strategy to expand in overseas growth markets, we are investing further in management and acquisitions. In Continental Europe we have successfully completed during the period the acquisition of Alpha International, a Paris-based retail fit out company, and this together with our existing retail offer, has considerably enhanced our capabilities to service our international retailing clients. In addition, our European Office Fit Out business has delivered an increased number of projects for key international clients, and we have appointed a new Managing Director for the business.

In Asia we have integrated Realys, the Shanghai based design-led project management company acquired in April 2011. We have seen continued investment by international companies into Asia, and are now benefitting from increased margins and volumes which we anticipate will enhance the division's results for the current financial year.

The Middle East has had a slower start to the year. In particular we have been hindered in the completion of our works due to delay in the completion of base buildings in Abu Dhabi where we are involved in the first five fit outs for international clients on Sowwah Island.

As has been well reported in recent months, there has been a slow down in the European economy and we are not immune from this impact. We remain confident of meeting the Board's expectations for the full year in respect of underlying profits, albeit with a further shift in profit weighting towards the second half. We continue to pursue growth opportunities both organically and by acquisition particularly overseas and to broaden our service offering to key international clients.

12 month low today - yield (if maintained) 9.41%.

c140p looks likely?

Harry - 160 has been a long time target (for me) - but now I'm not so sure :-)

Tricky one to predict, but at c 150p I would be interested, purely from a chart perspective. Bit of an unloved sector.

The Interims seem to come out in early March - about a week before the ex divi - so definitely of interest ( for me) in the short term.

New 12 month low today - yield pushing toward 10%.

Fresh lows here again today - something not right?

Good support at approx 140p.

RSI through the floor - I've had a limit in @146 all day.

Ugh!!!.... maybe a little more to go before a bounce, imo.

Trading Update - Downturn in retail sector impacts ISG

I've bitten the bullet and bought in here.

From this weeks's Shares Mag:
"Dan Coatsworth
Dump Interior Services (ISG:AIM) following monday’s (16 Jan) profit warning. The construction services specialist blamed uK retailers and banks for delaying or cancelling projects. These are meant to be the type of clients which increase spending on refurbishing their stores during tough economic times.
We also see the dividend at risk if trading conditions do not improve.
The stock is yielding 13.2%, assuming it maintains the 15.06p dividend paid in 2011. Stockbroker panmure Gordon has slashed its earnings per share forecast to 19.4p for 2012. This would imply Interior Services will only have a dividend cover of a skinny 1.3 times. Interior Services said at full-year results (6 Sep ‘11) work had doubled for Tesco (TSCO), yet the supermarket accompanied last week’s (12 Jan) profit warning with comments its uK development plans would have to be rethought.
Shares says: We see too many negatives short-term for Interior Services. SEll

What's this "skinny 1.3 times" ? :-)

On a serious note, the Tesco angle was one of my first thoughts/concerns - have a look at their list of customers.

INTERIOR SERVICES GROUP PLC
("ISG" or "the Group")
ISG Awarded Contract for £100+ Million Data Centre

Interior Services Group plc, the international construction services group, today announces that it has signed a contract for a £100+ million data centre with financial services provider Santander to construct and fit out a new facility in East Midlands.

The project encompasses the construction of two identical buildings, each with an individual gross floor area of over 161,000 sq ft, that will be delivered concurrently. The technically complex fit out of the buildings includes a highly resilient services installation, enabling full maintenance of the 24/7 operating facility.

David Lawther, ISG Chief Executive, said:

"We are delighted to announce this contract win. We have been focusing our efforts on the data centre market, bringing together a highly skilled technical team. We expect further growth in this area as we focus on our multinational clients and on their increasingly demanding technical requirements."


6 February 2012

Mind the gap :-)

The risk of derisory margins!
Can't believe the divi can be maintained
www.investorschampion.com

Interim Results 6th March 2012.

Half Yearly Report

Group Highlights

· In UK, maintained market leading positions and revenues in a highly competitive market place
· Overseas businesses performed well and now account for 27% of Group operating profit, up from 6% in previous year
· Continuing to benefit from reputational strength, diversified portfolio and investment in new markets
· Interim dividend maintained
· Order book at 31 January 2012 at £841m (2011: £794m), heavily weighted towards private sector

I was expecting at best, flat today (the maintained dividend was already known), but up 3.2% on a largely down day.

Directors adding to their SIPPS - Director's Dealing.

ISG wins Dundee medical school extension

ISG has been awarded a £4.3m contract to build an extension at
Dundee’s Ninewells Hospital.

Interior Services Group plc

ISG Appointed to MoJ Strategic Framework

ISG has been appointed to the Ministry of Justice (MoJ) Strategic Alliance Agreement Framework for Construction, which has a six-year duration and a potential £1 billion expenditure over its life. ISG has been successful in three categories - National (for projects of £10 million and over), North region and South region (both for projects from £150K up to £10 million). ISG is one of six constructors appointed in the National category, and one of five successful bidders within the two regional categories.

The framework encompasses new build, alterations, refurbishment and maintenance work and can be used across prison estates, court estates, the probation service and tribunals. Additionally, there is the potential for other Government clients to also procure construction services through the framework. Under the previous MoJ framework, ISG was appointed to just one regional category - the North - and to date has delivered in excess of 40 projects valued at over £82 million.

Cathexis Capital >3%

Is that classified as a pennant formation on the chart??? Not really happy buying into this company atm, but not sure if the chart says otherwise!

Harry, if you squint. :-)

I'm still in these from 122 and have had a dividend. I'll probably hold for now. As you can see in post 64, there are days when it is very thinly traded - so not really (for me) a trading share.

I think you are seeing a ghost in the works HarryCat. The share is just flatlining until next news.

I saw the chart at the top first! Now surely that is a pennant??? Sadly I then looked at the chart skinny posted and realised that my time scale was considerably out!!!

:-)

Pre-Close Trading Statement

Trading
The Board announces that trading for the year ended 30 June 2012 has remained broadly in line with the revised management expectations announced in January 2012. In the UK, we have maintained revenues but margins have been impacted by the current competitive environment. Outside the UK, increased revenues and improving margins have led to a substantially higher contribution to Group operating profit. The Group's financial position remains robust with net cash balances at 30 June 2012 of circa £25m (June 2011 - £36.1m).

In the UK, our Fit Out business has maintained its position in a highly competitive London corporate office market, where we have seen a reduction in the size of projects. In addition the business has successfully grown its presence in the data centre market having secured a £100+ million project to construct and fit out a new facility in the East Midlands. The second half decline in revenues for our UK Retail businesses has been in line with our expectations. We remain the number one service provider to this sector.

In the UK, our Construction business continues to experience competitive pressure on margins. However, against the market trend, revenues for the year have increased with a strong performance in the South benefiting from the work secured with LOCOG to assist with the preparation of the 2012 Olympics. Our South West construction division has returned to profitability in the last quarter of the year after a restructuring of the business.

Outside the UK, our strategy for increased international growth is proving to be successful. Overall volumes have increased as international customers have continued with their overseas capital investment programmes. Our Continental Europe Fit Out and Retail businesses have both made profitable contributions with the former benefiting from strong performances in each of its key markets of Germany, France and Italy, and the latter from the acquisition of Alpha International in October 2011, which has continued to trade well.

As we predicted, revenues and margins are substantially improved in Asia in comparison to last year. In particular, our North Asia Contracting and Commtech Commissioning Management businesses have performed strongly largely on the back of continued growth in the retail and data centre markets. In the Middle East the outturn was affected by slippage on projects in Dubai and Abu Dhabi. Longer term, the development of our service offering into Qatar offers significant potential.

Dividend
For the last few years the Board has increased the dividend by 5% per annum reflecting the success of its policy of diversifying the business through organic growth and acquisition. The Board was prepared to see dividend cover fall below its long term target of greater than 2 times cover on the basis of an early recovery in key markets. The impact of the reduction in the spending plans of UK supermarkets and banks in the second half is now expected to continue into 2012/13 and given the continuing uncertainty over the Euro, general tightening in credit markets and the significantly reduced pace of recovery in the UK economy, the Board has concluded that a more cautious approach should be taken. The Board believes that in the longer term the Group will benefit from conserving its internal resources to continue to support the growth of its overseas businesses. Consequently the Board now expects, in the absence of unforeseen circumstances, to pay a final dividend of 4.6p (2011: 10.7p) making a total for the year of 9.0p (2011: 15.1p).

Outlook
In summary, in the UK in the short term we anticipate that trading conditions will continue to be difficult. We are looking to target areas where we see growth opportunities, particularly in the data centre, hospitality, high-end residential and international retail markets. Outside the UK, we continue to see robust pipelines and strong demand for our services from our international clients. The current order book stands at circa £760m (June 2011 - £750m), of which £690m (June 2011 - £706m) relates to the financial year ending 30 June 2013. We continue to position the Group to benefit from international growth opportunities, new sectors and also for the eventual recovery in the UK.

4 July 2012

Mind the gap..lol.

Contract Win

ISG Awarded First Phase of £36 Million Ipswich Regeneration Scheme


ISG has secured phase one of a major urban regeneration project with Genesis Housing Association to deliver a mixed-use development in Ipswich. The £15 million contract focuses on the delivery of 386 new homes in the town's historic docklands area and ISG is now working towards the detailed design and costing of the full mixed-use scheme valued at around £36 million.

ISG has already carried out a significant £multi-million enabling contract at the site, which commenced in spring 2011, with the construction phase of the development due to commence in October and scheduled for completion in summer 2014.

ISG Awarded £16 Million City Tower Project

ISG has secured a £16 million project to refurbish and remodel City Tower in London for Great Portland Estates and Starwood Capital. The contractor will work across 10 floors, refurbishing 80,000 sq ft of office accommodation, as well as upgrading the façade of the 21-storey building.

ISG Secures £61 Million Center Parcs Scheme

ISG has been awarded a £61 million project to build the accommodation element of the new Center Parcs Woburn Forest holiday village in Bedfordshire. The contractor will build 625 lodges across the 365 acre site, which is scheduled to open to guests in spring 2014.

The project builds upon ISG's existing relationship with Center Parcs owner, private equity firm Blackstone. Under Blackstone's student accommodation brand Nido, ISG has delivered schemes in Notting Hill and Spitalfields - the latter a £120 million project creating the world's tallest student accommodation hall.

Final Results

Group Highlights

· Revenue up 9% to £1,281m (2011: £1,174m)

· Lower profits in the UK reflect a challenging economic environment

· Profits from overseas business nearly quadrupled to £3.5m

· Developing our international network of offices to continue servicing our blue-chip corporate clients

· Significant advances in the expanding data centre market

· Construction activity ahead of prior year on the back of completing substantial projects for the London 2012 Olympic and Paralympic Games following on from the successful delivery of the Velodrome

· Net cash balance of £25.4m at 30 June 2012 (2011: £36.1m)

· Order book marginally ahead at £760m (2011: £750m) with private sector bias of 81% (2011: 78%)

· Total full year dividend at 9.00p per share (2011: 15.06p)
· Subsequent to year-end, banking facilities renewed until September 2015

Divisional Highlights

UK Fit Out

· Revenue maintained at £347m (2011: £342m)

· Operating profit 19% lower at £6.5m (2011: £8.0m)

· London Office Fit Out market remains competitive, with project sizes smaller

· Increased revenue from growth sectors, particularly data centres

· Workloads from Retail Banking framework agreements stable

· Order book up 7% to £182m

"As previously announced in our pre-close trading statement in July 2012, the Board is proposing a final dividend of 4.59p per share, making a total of 9.00p (2011: 15.06p) for the year. The Board remains committed to a progressive dividend policy and a long-term dividend cover target of greater than two."

Back above 140p.

Ex dividend 24th 4.59p

Strong today - Looks like a tip in IC (I haven't read it), although volume low as ever!

Re Contract

ISG secures £100m of new contracts for key private sector clients

Interior Services Group plc, the international construction services group, today announces that it has secured in the last four weeks new contract awards totalling £100m for key private sector clients.

Within the UK, ISG has been awarded four contracts totalling £70m, including a major new warehousing facility for a drinks company in Scotland and the fit out of a first class airport lounge at Heathrow's T2 for United Airlines.

Internationally, ISG has further expanded its blue-chip client base securing four projects totalling £30m, including a third project in Paris for one of the UK's leading retailers and an office fit out project for an International Health Care Company in Abu Dhabi.

MA crossover - ex dividend Wednesday @4.59p

ISG Lands A Place On Bristol Airport Framework

The four-year framework will underpin the airport's master plan for expansion, with passenger numbers predicted to increase to 10 million per year over the next decade. Projects expected to be delivered via the framework include the expansion of the airport terminal, new office accommodation for airport staff and retail space, enhanced public transport infrastructure and increased parking capacity.

Half Yearly Report

Group Highlights

· Performing well in core retail and corporate office markets despite difficult UK economic conditions
· Developing our presence in engineering services and hospitality sectors
· Growing reputation and traction in our overseas businesses
· Continuing revenue stream from London 2012 Olympics
· Net cash balance of £25.3m at 31 December 2012 (30 June 2012: £25.4m), with banking facilities renewed until September 2015
· Order book ahead by 9% at £766m (2011: £704m), of which £512m is for delivery in current year, with private sector bias of 80% (2011: 77%)
· Interim dividend maintained at 4.41p per share

Divisional Highlights

UK Fit Out

· Operating profit of £2.0m (2011: £2.3m) on revenue of £119m (2011: £92m)
· London office fit out market remains competitive, with project sizes smaller, but larger scale projects beginning to re-emerge
· Increased revenue from growing engineering services market
· Order book up 83% to £170m (2011: £93m)

UK Retail

· Operating profit, as anticipated, decreased to £2.6m (2011: £3.0m), on reduced revenue of £164m
· Business has maintained its market leading position and margins are stable
· Substantial work under frameworks carried out for the leading major UK supermarket and retail banking brands
· Order book lower at £102m (2011: £148m) reflecting decrease in investment in new build projects by retail customers

Continental Europe

· Operating profit of £1.1m (2011: £1.3m) on revenue of £51m (2011: £53m)
· Office fit out business saw France and Germany performing well, but Italy weaker
· Retail fit out business continuing to grow, working for several repeat customers
· Order book lower at £26m (2011: £49m); since period end awarded £15m of projects

Middle East and Africa

· Later project starts have again impacted the first half results
· New office in Johannesburg opened
· Order book up 100% from prior year to £20m supports a stronger second half

Asia

· Operating profit maintained at £0.7m (2011: £0.7m) reflecting higher margins despite lower revenue of £35m (2011: £47m)
· North Asia driven by strong retail, hospitality and leisure sectors
· South East Asia, successfully diversified into hospitality and leisure sector
· Continue to invest for growth in our consulting businesses
· Order book higher at £39m (2011: £27m) supporting stronger second half activity in South East Asia


UK Construction

· Revenue increased by 18% to £280m (2011: £237m) on the back of London 2012 Games overlay works contract, generating an operating profit of £0.7m
· Strategic focus is on repeat customers and frameworks
· Market conditions remain challenging - in process of reorganising UK East region
· Order book increased to £409m (2011: £377m) and now weighted 65% towards private sector (2011: 58%)

Panmure Gordon Buy 139.50 137.50 170.00 170.00 Retains

Interior services set for recovery in IC on Friday. PE ratio of under seven. Picked some up on Friday.

Another excellent day.

What is the sun out where you are ?

Midday spike not bad either!

Interior Services Group PLC (ISG:LSE) set a new 52-week high during today's trading session when it reached 163.52. Over this period, the share price is up 16.91%.

Ex dividend tomorrow 4.4p.

Sold my holding

Interior Services Group plc
Change of name

4 April 2013

The Board of Interior Services Group plc (the "Company"), the international construction services group, is pleased to announce that the Company's name has been changed to ISG plc.

The Company's TIDM ('ticker') will remain unchanged as ISG. The Company's ISIN will remain unchanged as GB0002925955.

The new Company name is aligned to its brand name. Additionally, it is more reflective of the growth of the Company - from its roots in London Office Fit Out to its current position as an international leader not only in the Office sector, but also in Retail. For London 2012, ISG worked on every Olympic venue and built the world-renowned Velodrome.

ISG's UK Retail business secures £50m of new projects

Since our interim statement, ISG's UK Retail business has secured £50m of new projects which has resulted in a 45% increase in its order book to £148m as at the end of April 2013 (December 2012 - £102m).

The new wins include significant projects for repeat customers such as Morrisons, Primark and John Lewis Partnership. Additionally, during the period ISG has secured a new four-year appointment to a £40m-per-annum framework with a leading high street chemist.

David Lawther, ISG Chief Executive, said:

"I am delighted to be able to announce ISG's continued success in the Retail sector. We continue to win work under frameworks with both new and repeat customers, thereby strengthening our market-leading position."

ISG Awarded £52 Million Former BBC World Service HQ Refurbishment

ISG has been awarded a circa £52 million project by Japanese owner Kato Kagaku Co. Ltd to substantially refurbish the iconic former home of the BBC World Service - Bush House in central London. One of the largest commercial office refurbishment schemes to be awarded in 2013, the completed development of over 300,000 sq. ft. of lettable high specification Cat A space across four buildings on site, will be renamed the Aldwych Quarter.

12 month+ high @167p.

12 month+ high @173.50p.

One of an elite few today.

Acquisition and Placing

Acquisition

· ACE, which was established in 1990, provides office fit out and refurbishment services in Brazil's two largest cities of Sao Paulo and Rio de Janeiro.
· ACE provides services to both local clients (60% of its activities) as well as international clients. ACE employs around 115 staff and, in the year ended 31 December 2012, it reported revenue of £10m and profit before tax of £1.1m.
· The Acquisition is consistent with ISG's stated strategy and will enhance the Group's offering by:
- expanding ISG's international presence into a developing economy with excellent long-term growth prospects;
- providing opportunities to market to ISG's existing international client base; and
- providing opportunities to assist ACE expand into new sectors in which the Group has expertise.
· Under the terms of the Acquisition, ISG will purchase an initial 20% minority interest in ACE for £1.9m (satisfied by £1.7m cash and £0.2m shares in ISG), and will have a circa twelve month option to acquire the remaining 80% of shares in ACE for a maximum consideration of £12.7m, payable over four years.
· The Acquisition is conditional only upon completion of the Placing.

Placing

· Gross proceeds of £7.75m (approximately £7.35m net of expenses) through a placing of new ordinary shares of 1 pence each in the capital of ISG at a price of 155 pence per new ordinary share.
· The Placing Shares will represent approximately 13% of the Enlarged Issued Share Capital.
· The Placing has been fully underwritten by Numis.
· It is expected that admission of the Placing Shares to AIM will become effective, and dealings in the Placing Shares will commence on AIM, on 26 June 2013.
· The proceeds of the Placing will fund the cash element of the ACE consideration due up to March 2015 of circa £4m (assuming exercise of the option), as well as the payments due under a number of bolt-on acquisitions and related costs.

ISG secures Nordic data center scheme

ISG has been appointed as lead contractor on a second Nordic data center project, also for a global technology company, with a value of circa €150m (approx. £127m). Incorporating the very latest cooling technology, the data center is expected to be the most sustainable and energy efficient facility of its type in the world. Over a six-month period, ISG has now secured around €300m (approx. £254m) of data center project wins in the Nordic region.

Directors Shareholdings

Regional Construction Projects

ISG secures circa £100m Regional Construction Projects

Over the past two months, ISG's regional construction business has signed up projects with a combined value circa £100m.

The company is the sole appointee to a £22m capital build framework with Cleveland Fire Authority encompassing the construction of four new local fire stations and a new headquarters for the Fire Authority in Hartlepool.

In South Yorkshire, ISG is constructing a new 110,000 sq ft Tesco Extra store in a circa £19m town centre regeneration project in Rotherham. ISG is also delivering a new retail and leisure destination in Swindon, with the £16.5m construction contract to build the new Regent Circus outlet, which incorporates a six-screen Cineworld Cinema, a 50,000 sq ft Morrisons supermarket and eight restaurant units. In London, ISG has secured a circa £9m commercial office scheme for Amsprop Investments, extensively remodelling and fitting out the octagonal No. 5 Cheapside building, which overlooks St Paul's Cathedral.

Additionally, in Portsmouth, ISG is underway with a £16m redevelopment of the New Theatre Royal - significantly increasing capacity and providing new learning facilities for University of Portsmouth students. The influential North West Construction Hub (NWCH) public sector framework continues to generate a strong pipeline of opportunities, with ISG taking over £7m of projects in Lancashire alone, including a 'Youth Zone' centre in Burnley and an extension at Westgate Primary School in Morecambe.

Acquisition

Acquisition of 90% of the share capital of German office fit out company Tecton Engineering GmbH.

Trying 190p

2+ year high today @205p.

Final Results

Group Highlights

· Increased margins and profit despite difficult market conditions
· UK Fit Out and Engineering Services and UK Retail both strengthened their market-leading positions
· Established ISG's international reputation for the delivery of data centers
· Overseas businesses performing well with increased repeat work from blue-chip multinationals
· UK Construction has delivered an improvement in margin and profit in an ongoing competitive environment
· Order book ahead by 12% at £854m (2012: £760m) of which 20% is overseas
· Net cash balance of £36.1m at 30 June 2013 (2012: £25.4m)
· Successfully raised net proceeds of £7.4m to fund acquisitions, attracting a number of new institutional shareholders
· Entering of new markets and strengthening existing presence through the acquisition post year end of a minority stake in ACE in Brazil and the acquisition of Tecton in Germany
· Total full year dividend maintained at 9.00p per share (2012: 9.00p)

I've just reduced here for +£1.

Still on the up - over due a broker note!

Near 6 year high @260p

Getting nervous skinny? Itchy finger syndrome? ;o)

I sold some in mid September and its rocketed ever since!

Ex dividend 25th.

30 October 2013

ISG plc

ISG Announces GBP20 Million London Construction Project

ISG has secured a major London construction project from a repeat client, taking a GBP20 million scheme with specialist award-winning luxury residential developer, Amazon Property, to restore three buildings in London's famous Nash Terrace into exclusive residential dwellings.

Additionally, ISG has been re-appointed to the influential GBP1 billion Construction Framework South West. The framework will deliver a comprehensive range of public sector projects across the south west region, including schemes valued in excess of GBP30 million.

Up trend back on?

New high @292.50p

ISG PLC ISG Announces Major Regional Construction Win

ISG's regional construction business is set to deliver over GBP50 million of construction projects at the new Exhibition Centre Liverpool development, after adding the contract to build a four star hotel to its original brief to build the new 8,100 sq m, world-class exhibition centre at the iconic waterfront site. The new Exhibition Centre Liverpool building will more than double the amount of exhibition space at ACC Liverpool to 15,225 sq m and features a public atrium, food and beverage outlets, meeting rooms and a business centre. ISG will construct the hotel and Exhibition Centre Liverpool building concurrently, with the facilities set to open for business in 2015.

David Lawther, ISG Chief Executive, said:

"I'm delighted to announce this latest high-profile win, which further demonstrates the improving conditions within the regional construction market."

ISG Wins £125 Million UBS Fit Out Scheme

ISG Wins £125 Million UBS Fit Out Scheme

ISG has been awarded the largest London office fit out contract of the last twelve months, securing the £125 million project to deliver the new UK headquarters for UBS at 5 Broadgate. The striking office building is currently under construction and ISG is scheduled to commence work on site at the start of 2015, following a twelve month pre-construction period.

Appointed under a Construction Management form of contract, ISG will deliver approximately 700,000 sq ft of high-specification commercial office accommodation for the global financial services firm. The building will house up to three trading floors, enabling UBS to consolidate its London trading operations within one building, an auditorium, large executive area and a range of open plan and cellular office space.

Half Yearly Report

Group Highlights
· Increased underlying profit driven by growth in UK Fit Out and Engineering Services
· Order book ahead by 26% at £968m (2012: £766m), of which £641m is for delivery in current year (2012: £512m)
· Improving London office fit out sector - now working on six major (>£20m) schemes with a combined value in excess of £300m
· ISG established as a leading provider of data center construction services in the UK and overseas
· UK Retail has maintained its market leadership position
· Strengthening performance in Asia and the Middle East, variable across Europe, with acquisitions in Germany and minority interest in Brazil
· UK Construction seeing an improvement in the quality and size of projects secured albeit trading conditions remain difficult
· Net cash balance of £33.3m at 31 December 2013 (2012: £25.3m)
· Interim dividend increased by 3% to 4.54p per share (2012: 4.41p)

Jefferies International Buy 300.50 - 381.00 Initiates/Starts

ISG Secures Major Dubai Hotel Scheme

ISG Secures Major Dubai Hotel Scheme & Wins Queen's Award for International Trade

With the announcement that ISG has been awarded a Queen's Award for Enterprise in International Trade, the company has also secured its largest hotel project to date in Dubai, winning a circa £21 million project to comprehensively refurbish all 393 rooms in the iconic Kempinski Mall of the Emirates Hotel. The scheme encompasses upgrading guest rooms, suites and ski chalets, meeting rooms, gym and spa facilities, as well as the refurbishment of the external façade of the building.

Additionally, ISG's overseas businesses continue to win retail and hospitality projects. In the last two months the company has secured a further project with luxury brand Louis Vuitton to enlarge the retailer's existing store on Avenue Montaigne in Paris, as well as a project for Nike in La Defense. ISG has also secured projects with lifestyle brand Abercrombie & Fitch in Chengdu, China, the refurbishment of the facade of Main Street, USA at Hong Kong Disneyland and a scheme in Malaysia at the Four Points Hotel.

ISG Secures £70 Million Office Fit Out Wins

ISG's UK Fit Out and Engineering Services business has secured six major office fit out projects with a combined value of circa £70 million in the last two months.

The largest project is a 140,000 sq ft fit out of the new UK headquarters for legal firm, CMS Cameron McKenna, at Cannon Place in the City of London. The Company is also pleased to have secured an 80,000sq ft project in the iconic "Walkie-Talkie" building at 20 Fenchurch Street, London, to fit out five floors for an international insurance and re-insurance underwriting group.

In addition two of the contracts have been won outside central London, with ISG securing a 63,000 sq ft office fit out scheme for a global professional services firm in St Peter's Square, Manchester and a 135,000 sq ft office scheme at the Bedfont Lakes business park in Middlesex for BP.

David Lawther, ISG Chief Executive, said:
"We continue to see sustained growth within the London office fit out market, where we are the clear market leader, and are now experiencing early signs of improvement across the rest of the UK as positive sentiment ripples out from the capital."

Ooops!

Director Declaration


21 May 2014

Pursuant to Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies, the Company was on 20 May 2014 notified by Mr Roy Dantzic, Non-Executive Chairman, that Airplanes 320 Funding Limited, Airplanes IAL Finance Limited, Airplanes IAL Limited, Airplanes 100 Finance Limited, Airplanes III Limited and Elasis Leasing IV Limited, each of which Mr Dantzic was a director, have been placed into members' voluntary liquidation. As a result of the solvent winding up of these six companies, Mr Dantzic's authority as a director of these six companies ceased on the appointment of the liquidator.

Pre-close Trading Statement

ISG plc ("ISG" or the "Group"), the international construction services group, provides the following pre-close trading statement in advance of the announcement of its preliminary results for the year ended 30 June 2014, on 9 September 2014.

Trading

The Board announces that underlying trading for the year ended 30 June 2014 will be in line with management's expectations. There is significant improvement in the majority of our core markets, both in the UK and internationally, albeit our UK Regional Construction business continues to face challenges in line with its market. The Group's financial position remains robust, with an improved estimated net cash balance of £38.0m as at 30 June 2014 (June 2013: £36.1m).

Our UK Fit Out and Engineering Services business has seen significant revenue and profit growth in the second half of the year. This is underpinned by a strengthened market-leading position in London office fit out. There has also been continued success and expansion in our delivery of data centers internationally and in the UK. In the Nordics we will complete the second project over the summer and have been awarded a third project. With a strong pipeline and order book, we expect continued growth for the business in the year ahead.

Despite the difficult retail marketplace, we have seen improvement in our UK Retail business. The picture across our retail frameworks is broadly one of stability and we are growing our expanded front-end service to selected key framework clients. Our diversification into the Hospitality sector is bearing fruit, with projects in Terminal 2 at Heathrow and refurbishment projects at three London hotels.

As previously reported, we are restructuring and reducing our UK Construction business to four regions focusing on repeat customers and frameworks in core sectors. To complete this restructuring, we have taken the decision to discontinue activities from our office in Tonbridge, which we expect will result in a loss from discontinued operations of £3.5m in the current financial year. Current margins continue to be commercially challenging on projects entered into more than a year ago. However, with the market now improving and with recent project wins generally being secured under better procurement routes, we anticipate seeing an upturn in margins from 2015.

In Continental Europe our performance has mirrored market conditions, with our German office fit out and French retail fit out businesses performing well. Market conditions elsewhere are more difficult, with particular sectors and geographies trailing the economic recovery in the UK. Our recent German acquisition, office fit out company Tecton, has performed well during the year exceeding our expectations. Overall we anticipate revenues being slightly ahead of last year, though margins have reduced.

In the Middle East, we have seen strong growth in revenue and profit, underpinned by the return of larger office fit out projects in Abu Dhabi and the securing of a large-scale hotel refurbishment in Dubai.

In Asia, we have continued to benefit from the strength of the retail and hospitality sectors, particularly in Hong Kong and Singapore, which has led to revenue growth and an improvement in margin in the year.

Outlook
Our current order book stands some 25% higher at £1,045m (May 2013: £843m) of which £820m (May 2013: £674m) relates to the financial year ending June 2015. Of the order book £219m (May 2013: £182m) relates to our overseas activity.

We are starting to benefit from the improvement in certain of our key markets both in the UK and overseas. We expect to see continued growth in the new financial year in all our key sector offerings.

30 June 2014

Site Visit

ISG plc ("ISG" or the "Group"), the international construction services group, will host a site visit for analysts today to Bush House in London. The event is intended to provide a greater understanding of the Group's operations and strategy and no new material financial information will be provided.

Acquisition

Acquisition of 50.1% of the share capital of Spanish fit out companies.

ISG plc ("ISG" or the "Group"), the international construction services group, is pleased to announce that it has acquired a 50.1% interest in Interior ISG Espana SA ("Interior Espana or the Company"), a newly formed company that owns 100% of each of Diseños y Adecuaciones, SL ("Diadec") and Emerald Telecom and Data Center, SA ("Emerald") from its six owner managers led by the Managing Director Mr Javier Cirac. The initial consideration is €2.2m (£1.75m) and the maximum consideration is €4.7m (£3.7m) subject to performance.

Diadec provides office and retail fit out services while Emerald offers data center and engineering services. Both operate in Iberia from a head office in Madrid that employs 35 members of staff. Mr Cirac and the five other founding directors will retain their remaining 49.9% shareholding in the business and will continue to manage the operations going forward. Interior Espana also owns 90% of a fledgling fit out business in Lima, Peru.

Mr Cirac and his colleagues bring with them a wealth of experience in the data center and retail and office fit out markets and their customers include both local companies such as Aguirre Newman, Ocaso, Docout, Vueling and Mapfre, and international companies such as British Telecom, Vodafone, 3M and CBRE.

ISG has an established relationship with Mr Cirac and his management team with the first collaboration between the parties taking place in 2001. A year ago, with signs of an economic recovery in Spain, there has been a marked increase in opportunities.

The combined revenue of Diadec and Emerald for the year ended 31 December 2013, was approximately €7.8m (£6.2m) and they generated a profit before tax of €0.58m (£0.46m). At 31 December the combined net assets of the businesses stood at €0.95m (£0.75m).

At completion, €200,000 (£159,000) will be invested as new capital into the Company and €2m (£1.6m) as vendor consideration, of which €1.5m (£1.2m) will be in cash and the balance of €0.5m (£0.4m) in ISG ordinary shares.

The deferred consideration of €2.5m (£2m) is payable in three potential instalments over three calendar years ending 31 December 2017, based on the achievement of certain Profit Before Tax targets. The first €500,000 of deferred consideration will be settled 75% in cash and the balance in ISG shares and the remaining consideration will be settled 50% in cash and the balance in ISG shares. All shares issued to the vendors are subject to phased lock-in periods over two years from the date of issue and orderly market undertakings.

At completion 66,579 ordinary shares of 1p each in the Group will be issued to the vendors based on a price of £2.98 per share and a further €250,000 of ISG shares will be issued at the end of the warranty retention period in June 2016 (at the then prevailing share price). The new ordinary shares will rank pari passu with the existing shares of the Group. Application will be made to the London Stock Exchange for the new ordinary shares to be admitted to trading on the Alternative Investment Market and it is expected that admission will take place on 21 July 2014. Following the allotment, the total issued share capital of the Group will increase to 39,195,596 ordinary shares.

David Lawther, Chief Executive Officer of ISG, commented:
"ISG has a long association with the management team of Diadec and Emerald and we have collaborated on projects for a range of ISG's repeat customers. The acquisition is part of our strategy to follow clients into key fit out markets and in particular to strengthen our data center and engineering services capabilities internationally."

09 Sep 2014 - prelims

From IC :-

Share tip summary

When we last tipped ISG, the shares were trading on less than seven times earnings forecasts. They are not quite as cheap as they were, but on 10 times fiscal 2015 forecast earnings they still look undervalued for the 21 per cent compound annual earnings growth forecast over the next two years. ISG is out of the recovery phase and into a growth phase, but the rating is still in deep value territory.So we are back for more - buy.

Multi year high @330p.

Group Highlights
· Underlying profit improvement driven by recovery in key markets and new growth sectors
· Order book ahead by 18% at £1,011m (2013: £854m) of which £926m (2013: £801m) is for delivery in the current year
· UK Fit Out and Engineering Services operating profit nearly doubled
o Improved London fit out market with a strong order book and pipeline
o Substantial growth in Engineering Services - recently secured fourth circa £100m data center in the Nordics
· UK Retail maintaining its market leading position
· UK Construction seeing an improvement in market conditions albeit trading conditions in the year remained difficult
· Strengthening performance in Asia and Middle East
· Variable performance in Continental Europe, with strong first year contribution from Tecton in Germany
· Net cash balance improved to £46.3m at 30 June 2014 (2013: £36.1m) largely on back of working capital improvements
· Acquisition post year end of a majority stake in Diadec and Emerald extends our geographical coverage into Spain
· Recommended 7% increase in final dividend resulting in a full year dividend of 9.45p per share (2013: 9.00p)

Jefferies International Buy 321.50 321.50 390.00 430.00 Reiterates

StockMarketWire.com
ISG's UK construction business has secured three major projects valued at £48m.

The company will be working at the Royal Botanic Gardens, Kew, to restore the Temperate House - the largest remaining Victorian Glasshouse in the world. The £24m project will transform and modernise facilities at this building, which will house Kew's world-class collection of temperate plants when formally re-opened in May 2018.

It has also won contracts for two new leisure centres for Walsall Council in a £24m project. The company will replace Oak Park and Bloxwich Leisure Centres with new state-of-the-art facilities, which include 25m eight and six lane swimming pools, sports halls, 100 station fitness suites, dance studios, squash courts, café and upgraded external pitches.

David Lawther, ISG chief executive, said: "The UK construction business continues to focus on converting high-quality, larger value opportunities across our core sectors."

AGM Statement and Trading Update

7 year high @344p.

Directorate Change

ISG plc, the international construction services group, will announce interim results for the period ended 31 December 2014 on Tuesday 3 March 2015.

A presentation for analysts will take place at 11.30am on that morning at ISG's offices located at Aldgate House, 33 Aldgate High Street, London EC3N 1AG. Please confirm your attendance to francesca.cadoni@instinctif.com

Trading Update

Current Trading

The Group's UK Fit Out and Engineering Services, UK Retail and International divisions have performed well during the period and in aggregate for the half year have exceeded the Board's expectations. However, trading in UK Construction has been further adversely impacted by the performance of three contracts procured more than eighteen months ago that has offset these improvements.

Furthermore the Group is in protracted negotiations on one large construction contract entered into in 2012, and has decided to make a significant provision against this contract. As a consequence of this additional provision, the Board now expects the full year results from continuing operations to be c£7m below its expectations set at the time of the AGM statement announced on 5 December 2014.

UK Construction

The Group has been restructuring its UK Construction division over the past eighteen months. The trading update made today is a result of the completion of an internal contracts performance review within UK Construction (including the discontinued activities) in preparation for the Group's half year results by the recently appointed divisional managing director.

This review has focussed on the appropriateness of internal judgements and forecasts of contract recoveries. In particular the review has focussed on projects that were procured more than eighteen months ago when market conditions were less favourable, where there has been project deterioration and on the close out of outstanding contracts within previously discontinued operations.

Performance from ongoing activities in UK Construction in the first half of the current year, excluding the older contracts mentioned, has been profitable reflecting the Group's initiatives to improve procurement, bid and risk management. The business has continued to focus on winning work from repeat customers and frameworks, and on reducing open market tendering. Contracts procured since the start of the financial year continue to be secured on significantly improved terms.

Exceptional costs from Discontinued Operations

The Group also announces today that it is discontinuing its London Exclusive Residential activities at a cost of £6m and is making further provisions for increased losses of £11m related to the closure of its Tonbridge office and associated contracts announced last year.

The Board has

· decided to discontinue its London Exclusive Residential construction activities as the rewards do not meet the division's new bid and risk management policies. The provision reflects the losses incurred year to date and the Board's assessment of the costs to close its West End office and the remaining contracts. There are five larger contracts in this division of which two have achieved practical completion and the remaining three are due to complete within the next six months;

· continued to finalise the closure of its Tonbridge office. This closure has adversely impacted its ability to collect sums due on the remaining projects within this division. A substantial portion of the additional provision announced today reflects a more prudent assessment of the ultimate recoverability of project entitlements. All contractual entitlements continue to be vigorously pursued.





Financial Position

Net cash as at 31 December 2014 was £38m (2013: £33m). The Group continues to trade in line with normal seasonal cash flow trends and within its committed banking facilities which extend to March 2019 and expects to end the year with a similar net cash position as at the end of the first half.

Order Book and Outlook

The Group's order book remains robust at c£1bn as at 31 December 2014. The UK Fit Out and Engineering Services, UK Retail and International divisions are expected to continue to outperform in the second half supported by this robust pipeline and trading in UK Construction is expected to stabilise. With the actions that have been taken the Board anticipates that the Group's growth trajectory will return to the expected levels in 2015/16.

The interim results will be announced on 3 March 2015.

Numis Add 273.50 370.00 335.00 Retains

Re Contract


ISG Secures a Further £148M of European Data Center Projects

ISG continues to build on its significant presence in the international data center market and has been appointed as lead contractor on two data center schemes in Western Europe. The projects have a value of over €200m(approximately £148m).

David Lawther, ISG Chief Executive, said:
"The successful delivery of major data center projects in the UK, Nordics and continental Europe has firmly established ISG as a leading international provider in this technically advanced sector."

Hope you took profit skinny. Chart not looking good. Somewhere around 140p is worst case scenario, imo.

No, still holding a few Harry - I'm not sure I'll still be here at results time though!

Jefferies International Buy 240.00 240.00 410.00 370.00 Reiterates

Half Yearly Report

Group Highlights
· Strong performances from UK Fit Out and Engineering Services, UK Retail and International divisions
· UK Construction division generated a loss of £16.0m as a result of provisions and losses on contracts entered into more than 18 months ago, but now stable with better contracts secured
· Order book in line at £967m (2013: £968m), of which £655m is for delivery in current year (2013: £641m). Since period end £148m of data centers business secured
· Net cash balance of £38.3m at 31 December 2014 (2013: £33.3m)
· Fund raising of £16m undertaken with institutional investors to strengthen equity base
· Interim dividend passed; in the absence of unforeseen circumstances, the Board expects to pay a final dividend of 4.91p (final 2014: 4.91p)

£16 million Fund Raising, up to £3 million Broker Option and short term increase in revolving credit facilities

Introduction

The Company today announces that it has undertaken an equity fund raising (the "Fund Raising") at a price of 170 pence per new ordinary share (the "Fund Raising Price") with institutional investors, raising £16 million (approximately £15 million net of all expenses). The Fund Raising comprises a placing by Numis Securities Limited ("Numis") on behalf of ISG totalling £5.5 million of 3,235,294 new ordinary shares (the "Placing Shares") with institutional shareholders (the "Placing"), and, separately, the Company will issue 6,176,471 new ordinary shares (the "Cathexis Shares") to Cathexis Capital (the "Cathexis Placing") raising £10.5 million. The issue of the Placing Shares and the Cathexis Shares will each be effected by way of separate cashbox placings.

In addition, the Company has granted an option to Numis to issue up to an additional 1,764,706 new ordinary shares at the Fund Raising Price (equal to £3 million in value) for the period from the date of this Announcement to 7.00 p.m. on Monday 9 March 2015 in order to meet any additional demand from other investors including existing shareholders (the "Broker Option").

Did you cash out skinny?

I've had a limit in for a week which wasn't hit - so no.

I'm now 49% up on my original 2012 purchase price - but still smarting.

I would suggest that given the directors had so little visibility over the level of losses it is not clear to me that there won't be further bad news.

I hold no position but am looking for anything in the construction/manufacturing sector which has the potential for good gains and plan to buy on a pull-back on FTSE

Broker Option

ISG announces that, further to the Fund Raising announced on 3 March 2015, Numis Securities Limited ("Numis") has exercised the Broker Option in respect of 544,319 Ordinary Shares (the "Broker Option Shares").

The Broker Option Shares are being issued at a price of 170p per Broker Option Share (being equal to the Fund Raising Price) and will be issued on the same terms and conditions as other Ordinary Shares pursuant to the Fund Raising. All of the proceeds of £0.9 million arising from the issue of the Broker Option Shares will, after deduction of commissions and expenses, be received by the Company.

Application has been made to the London Stock Exchange for the 544,319 Broker Option Shares to be admitted to trading on AIM. Admission of the Broker Option Shares to trading on AIM is expected to take place at 8.00am on Thursday 12 March 2015.

Capitalised terms used in this announcement have the meanings given to them in the announcement of the Fund Raising dated 3 March 2015.

I am not sure why I'm posting this as I'm not going to be purchasing these shares any time soon.

It seems this company operates in the construction sector and specialises in fit outs and data centres. I am struggling to see why the margins in this business would be significantly higher than the rest of the sector as. Times are difficult and it seems the management haven't got a good handle on the construction side.

That being said I am even more puzzled about the recent share placing. Presumably Numis couldn't have just placed the shares with Cathexis, but would first have sounded out a rights issue. I guess it found little support and thus the placement.
After the placement Cathexis continued to pick up shares at around 170p and the price held up. The minute Cathexis reached 25% of the share capital the price has collapsed and RNS this morning shows Investec reducing.

I therefore construe no-one but Cathexis has any faith in the management and will continue selling out. It would be nice to think Cathexis know something we don't but I'm struggling to see what.

I still hold some of these from 122p, having sold half @230p.

Investec still seem to be reducing @3.99% now - I'm too am baffled by the continued weakness and erring more towards selling the rest as opposed to adding again.

Yet again it makes the Jefferies note back in Feb look ridiculous. Broker notes........what a waste of time!

Numis Buy 152.50 - 335.00 Upgrades

What do you reckon, skinny? Starting to look interesting?

I still hold a third of my original number and probably will do for now - look at the chart from May 2013 and ......



RSI turned sharply up and some volume today.

Not tempted to add then, which shows what you really feel!!!
(May 2014.....)

I'm as exposed as I want to be - generally that is, atm, but certainly now not looking to sell.

Upgrade to 335. Methinks Cathexis might have placed some pressure on Numis.

StockMarketWire.com
ISG has been awarded in excess of £80m of additional data centre works in the UK and Continental Europe from existing customers.

This has resulted in the group's order book increasing to a record £1.1bn as at March 2015 (March 2014: £1.0bn).

Chief executive David Lawther said: "We are delighted that our order book continues to remain strong. Our technical expertise and international capability continue to prove decisive factors for customers entrusting ISG with business critical projects."

Ironically, I sold the last of my holding yesterday!

So you are not expecting a recovery in the sp any time soon then?

I've been doing some pre-election trimming and ISG fell into that category.

As I've posted before, they have been good to me over the years, and I will probably buy them back again - just unfortunate timing with the sale - as ever! :-(

Just that I was thinking that another lurch down to 140p level and I might be tempted to buy a wad in anticipation of a recovery. Might take a while, but ......
Sorry you were pushed into selling near the bottom. I am expectig DC to get back in, with assistance, so not too much rejigging needed, imo.

It was more of a pragmatic decision rather than being pushed - I also sold LSR - you may want to look at those if I have the same effect!

Trading Update

£80m Office Fit Out Projects

Final Results

Numis Buy 173.00 335.00 335.00 Reiterates

Anyone know the reason for this drop in SP?

Probably a disappointing trading update!

StockMarketWire.com
International construction services group ISG expects a greater second half weighting to this year's results.

The group says it has seen good trading conditions for the majority of its businesses since the start of the financial year with a particularly strong performance by its UK Fit Out and Engineering Services division.

But it says trading in UK Construction has been disappointing.

The group says it anticipates the results for the full year being in line with the board's expectations for all divisions except UK Construction.

An update says: "We continue to work on the recovery plan for UK Construction. Despite the many positive steps we have taken, we have continued to experience disappointing project outcomes on some older contracts. In addition, with margin and risk control remaining our priority rather than volume and some customers delaying the start on site of their projects, volumes this year will be below our expectations with profit deferred to later periods. As a consequence, this division will be loss making this year and will impact the Group results by up to £5m. The Board is resolute in its ambition to refocus this division on core sectors, regions and skills.

"Work on closing out the final projects on discontinued activities is proceeding in line with our expectations. We expect all projects to have reached practical completion by December 2015 and for the vast majority of outstanding commercial issues to have been settled by the financial year end.

"At the end of October, our total order book had increased by 12% to £1,130m (October 2014: £1,010m) of which £840m (October 2014: £770m) is for delivery in the current year. The balance sheet remains robust and we anticipate a net cash position in excess of £50.0m as at 31 December 2015 (2014: £38.3m)."

......... fill yer boots.... Dil

I had been looking at company RNS and figures and ....
...Construction division, Construction division and Construction division has been the problem, time and time again, yes the contracts were made back on 2012, but the persons Bidding for contracts, certainly were not doing any good job, it seems they were more interested on wining the contract that if it was profitable for ISG.
I wonder if they are still working for the company budget department? hope NOT

There's something not quite right here. Can't quite put my finger on it but directors seem to paint a optimistic reassuring picture then deliver something different and it seems to be a surprise to them.