2nd Feb 2015 07:51
LONDON (Alliance News) - ISG PLC on Monday issued a warning on its full-year results after it said problems with a few contracts in its UK construction arm had offset a strong performance for the rest of the business.
The construction services company said three contracts entered into more than eighteen months ago had continued to impact on its performance, and added it is in protracted negotiations over a large construction contract entered in 2012 and has decided to make a provision against the contract.
As a result of that provision, it expects its results for the year to June 30 to be below its previous expectations.
It said performance of its fit out, engineering services, UK retail and international arms was strong and said, excluding the construction contract difficulties, its half-year performance came in ahead of its expectations.
By Sam Unsted; [email protected]; @SamUAtAlliance
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