ISG looks overseas amid profit fears

摘要

Fit-out specialist ISG has issued a profit warning after losing out on work due to a number of its retail clients being forced to cancel projects. ISG told the Stock Exchange that UK trading conditions have deteriorated since its last update in November. It said a number of "key clients" in the UK food retail and retail banking sectors had reassessed their strategies and cancelled or deferred projects due to be undertaken in the second half of the financial year. It admitted this was likely to result in a £3 million hit to its UK retail profits.Trading for the first half of the current financial year is in line with expectations, but group profits for the year to 30 June 2012 will be below expectations.