ISG Share Discussion Threads

[a2584728] 02/2/2015 10:56

Someone should get the sack over this, it's a known fact that this bunch were buying projects in the lean years and now the costs to complete are coming home to roost, they will have known this all the time that the price was been walked up.

[napoleon 14th] 02/2/2015 09:44

Glad I didn't buy on recent +ive write-ups.
Profit warnings come in three, don't they?
Just keep watching - there's other options to chose from.

[edmundshaw] 02/2/2015 09:18

I'd wait. The fall may well be repeated on actual results, when investors have forgotten they have already priced in their disappointment. Just psychology. The fall is after all justified unless you are looking long term (multi-year), so no certainty of a sustainable bounce.

Unfortunate for shareholders, but these things happen. Poor outcomes to construction contracts are pretty much part of the game, though admitedly ISG has not suffered from that (publicly) for a fair time.

[gargleblaster] 02/2/2015 08:52

Based of Friday's close, then a 19% fall represents a capital loss of £26 Mil based on the market cap of circa £139 mil. Tempting for me to buy in for the first time!

[skinny] 09/1/2015 07:06

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 [e-mail]

[skinny] 08/12/2014 16:20

Seven year high earlier @344p

[deadly] 07/12/2014 09:40

Excellent update from excellent company seems to have gone unnoticed. Now at highest for many years and looking at all time high, but still cheap at forward P/E of 10.

[skinny] 10/9/2014 07:22

Jefferies International Buy 321.50 321.50 390.00 430.00 Reiterates

[skinny] 09/9/2014 07:44

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)

[deadly] 09/9/2014 07:37

Excellent results; increased everything.

And also:
Awarded Additional £100 Million Nordic Data Center Scheme

[welsheagle] 21/8/2014 21:11

According to Company refs, the PER is only 10.7, with cash per share of 103p.

[edmundshaw] 20/8/2014 09:21

I have now sold my last shares in this. A PER of around 15 seems enough to me.

A lot of positivity so there may well be more to come, but one issue is the strength of sterling which may disappoint in terms of foreign earnings.

I am probably too early, but anyway I hope to be back here at some point.

[welsheagle] 28/7/2014 19:27

Construction industry picking up generally after severe recession.

[skinny] 28/7/2014 13:39

That's a multi year high @330p.

[deadly] 28/7/2014 13:28

Delayed reaction but getting there; it deserves a re-rating with growth looking steady and sure in the near future.

[edmundshaw] 16/7/2014 08:05

Another bold step forward.

Looks a good price on the face of it, and with good previous collaboration, not speculative.

[skinny] 16/7/2014 07:03

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."

[gh0stwriter] 09/7/2014 10:24

Major public sector framework win announced here

[skinny] 07/7/2014 07:07

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.

[skinny] 30/6/2014 08:05

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

[skinny] 21/5/2014 16:09

Ooops!




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.