ISG prepares for a growth spurt after its £ 500 million revenue drop


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ISG is preparing to achieve “significant growth” in 2022 after 2020 with less revenue but still making profits. The contractor and supply company saw revenue drop to 2.04 billion pounds in 2020, down more than half a billion pounds from the record 2.59 billion pounds it reported in 2019. The company said the COVID-19 pandemic disrupted projects in 2020. , Which resulted in some charts being paused or delayed start dates due to clients taking a cautious approach. Chief Executive Paul Kosell said ISG will soon see an increase in its revenue levels after setbacks in 2020. “We expect 2021 to return to similar financial data to our record year in 2019, before returning to significant growth in 2022.” The company remained profitable in 2020, with profits before tax of 8.9 million pounds, down from 44.2 million pounds in 2019. The company ended 2020 with no debt and a cash position of 101.5 million pounds. The contractor’s order book at the end of 2020 was £ 1.5 billion, up from £ 1.4 billion 12 months earlier. Cossell said the company’s growth will be supported by its traditional strong market position in the office and retail markets, as well as its move in recent years into the logistics, data center and high-tech manufacturing sectors. He highlighted the company’s appointment at the end of 2020 as the prime contractor on the £ 2.6 billion Britishvolt plant project, with construction scheduled to begin later this year. Cossell praised the company’s performance against the backdrop of the epidemic. “COVID-19 has clearly affected our results. But as CEO, I look back to 2020 with a sense of pride that we have remained profitable, maintained our debt-free position and continue to advance towards the“ 4 in 24 ”strategy in a measurable way. ISG All 4’s 24 goals cover improving efficiency, driving change in construction processes, providing better customer service and providing an ‘unbeatable work experience’ for employees, all by 2024.


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