ISG has hailed its “resilient” financial performance, after its revenue dropped by £600m to £2bn in 2020 and pre-tax profit fell to £8.9m, down from £44.2m the year before.
While the firm grappled with “one of the most challenging years for our industry”, it nonetheless built up a record £1.5bn order book (up from £1.4bn the year before) and has managed to remain free of debt.
The business developed a best practice app shared with Build UK at the height of the covid-19 pandemic and managed to return to near-normal levels of productivity, as well as reaching its highest level of customer satisfaction scores, at 89%. It also became the Sunday Times’ 17th ‘best big company to work for’ during the year.
It maintained a score of A- in the Carbon Disclosure Project (CDP) scheme, giving it ‘leadership’ status, reducing its absolute global emissions by 37%.
Paul Cossell, CEO of ISG, said: “In one of the most challenging years for our industry, clients and society in general, our resilient 2020 financial performance is testament to the outstanding contribution and commitment of our people and supply chain partners to drive projects forward safely.
“The ISG of today is placed in growing sectors, being selected for hyperscale projects and is working with a select number of blue-chip clients that want to work with us for the long term, in collaborative partnerships. We expect 2021 will see us return to similar financials to our record year in 2019, before returning to significant growth in 2022.”