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.

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?