ISG posted a £27.8m loss in its final yearly results in what was described as a "challenging year" for the contractor.

David Lawther, CEO of ISG, said the Group's performance was "significantly impacted" in the first half of the year by losses to the company's UK Construction division.

"We delivered a significantly stronger second half performance, with good results especially in our specialist fit out, engineering services and retail businesses," he said.

-- Advertisement --

"We believe that the poor performance and painful restructuring of the UK Construction division is now behind us, and with the outlook for most of our key markets remaining strong, we expect a much improved overall performance for the Group in the year ahead."

Turnover for the year to June 30 2015 rose to £1,629m from £1,455m as losses slumped to £27.8m from a profit of £2.4m last year.

UK Fit Out and Engineering Services profit increased by 62% with revenue of £630m compared to £520m last year.

Overall, the UK Construction division made an operating loss of £18.1m for the year.

(LM)