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Contractor ISG saw revenue expand by almost a quarter in 2011 on the back of recovery in the private sector fit-out market, returning turnover to more than 拢1bn.

The firm reported revenue of 拢1.2bn for the 12 months to June this year, 23% up on the 拢972m reported in 2010.

However, profit at the contractor did not expand as continuing margin pressure in the UK business, restructuring in its south-west operations and a large problem job in Europe took its toll. Adjusted profit before tax was 拢11.5m, marginally down on the 拢12m recorded in 2010.

Chief executive David Lawther said he was 鈥渧ery pleased鈥� with the results given the challenging market conditions. 鈥淲hile the global construction market continues to be challenging, there have been signs of recovery in our key sectors and geographies and the company is continuing to perform well.

鈥淲e have won work during the year totalling 拢1,204m (2010: 拢892m) enabling us to finish the year with our best ever total revenue.鈥�

The company鈥檚 UK fit-out business reported revenue up by 32% to 拢342m, and profit up by 27% to 拢8m. The firm said 78% of its forward order book was now private sector work, compared with 64% last year.

However, the firm鈥檚 UK construction business saw operating profit half on flat revenue, despite benefitting from the purchase of part of Rok鈥檚 Scottish business. The firm said this was down to declining markets outside of London and the South-east, which, in particular, its south-west business was slow to react to. The team has since been restructured, although ISG declined to give a figure on job losses. Nevertheless, the overall number of staff at the construction division grew 13% with the Rok acquisition.

Overall staff number at ISG increased over the year by a quarter to 2,527. Lawther said: 鈥淎s project sizes have reduced in scale so you need more resources to handle them. As a business we have increased the headcount, despite the fact parts have had to downsize.鈥�