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ISG鈥檚 UK construction business has fallen into the red, posting an operating loss of 拢1.2m, although the firm鈥檚 fit-out and retail arms helped the wider group to an improved performance, with profit more than doubling.

In its accounts for the year to 30 June 2014, published today, ISG Group reported a pre-tax profit from continuing operations of 拢6.8m, up from 拢3m in the previous year.

It also reported a 19% rise in revenue from continuing operations to 拢1.5bn, up from 拢1.2bn.

However, the firm鈥檚 UK construction business sunk to an operating loss from continuing operations of 拢1.2m, down from a profit of 拢1.6m.

The construction business also reported a 7% fall in revenue to 拢463m, down from 拢499m.

During the year ISG undertook a restructuring of its UK construction arm, which resulted in 拢2.4m of costs.

The firm also closed its Tonbridge office during the year, resulting in a post-tax loss of 拢2.8m, which was treated as a discontinued operation in the accounts.

The firm said the UK construction market was 鈥渃hallenging鈥� but 鈥渟howing signs of improvement鈥�.

The firm said it was 鈥渞educing our open market tendering activity鈥�, with 78% of its current order books secured through repeat customers and frameworks.

ISG鈥檚 fit out and engineering services division reported strong results with a 81% growth in revenue to 拢520m and an increase in operating profit to 拢9.9m from 拢5m.

Its retail business also reported a slight rise in revenue to 拢283m, up from 拢267m, 鈥渄espite a competitive retail marketplace, with fewer new build opportunities and the focus on refurbishment鈥�.

The division鈥檚 operating profit also rose to 拢6.1m up from 拢5.5m.

In Europe, the firm reported an increase in revenue to 拢103m, from 拢92m, but it said its margins had been squeezed by slow economic recovery in France and Italy.

It reported a dip in operating profit to 拢1.3m from 拢1.6m.

The firm鈥檚 Middle East business reported a rise in revenue to 拢35m, from 拢26m, and a rise in operating profit to 拢500,000, up from 拢100,000.

ISG chief executive David Lawther said: 鈥淥ur diversification strategy, combined with the recovery of our traditional core markets, positions the company for growth.鈥�

He added that growth in the London market and the company鈥檚 strong performance in many of its overseas markets would allow the company to win larger overseas projects in the future.

He said: 鈥淭he company is benefiting from the recovery of our key markets, while at the same time our successful strategy is driving improved results and developing the business across its sectors, services and geographies.

鈥淲e will continue to target growth both organically and through acquisitions. We expect to show further improvement in our results in the coming year.鈥�

Separately ISG announced it had been awarded a 拢100m data centre job in the Nordic counties.

It is the firm鈥檚 fourth such project in the area having handed over one in February 2014 and another in August 2014.