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ISG saw its turnover grow by 31% in the first six months of its financial year, covering the six months to 31 December 2010.

Its turnover grew to 拢635m in the first half, compared to 拢483m a year earlier. Its profit before tax increased by a massive 73%, ending the half at 拢4.5m, compared to 拢2.6m in 2009.

Turnover in the firm鈥檚 fit-out division increased by 39%, to 拢193m in the first half, compared to 拢139m a year earlier.

But this turnover growth came at a cost as competition in the sector reduced margins considerably. Margins in the division fell to 1.7%, compared to 2.7% in 2009.

ISG saw revenue in its construction division remain relatively static, at 拢248m, compared to 拢244m and its reliance on the public sector for work has also reduced.

In the last six months of 2009 the public sector represented 66% of its work in the division but this fell to 49% in the last six months of 2009. The construction business鈥� order book was virtually unchanged, at 拢408m.

Another bright spot was the food retail division, which has been boosted by work from the UK鈥檚 largest supermarket chains, such as Tesco, Asda, Sainsbury鈥檚 and Marks and Spencer.

ISG also won its first ever place on a framework for Morrisons. Revenue in the food retail division more than doubled, to 拢107m.

Commenting on the results, ISG chief executive David Lawther said: 鈥淭his is a strong performance, especially in the UK. We expect to see a more complete recovery of the London fit out market as we move through 2012.

鈥淥ur blue chip client base will go on providing demand outside the UK. We are emerging from the recession in good health with strong finances, diverse revenue streams and market leading positions in commercial office fit out, food retail and retail banking.

鈥淲e will continue to target growth both organically and via acquisition.鈥�