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By Dave Rogers2021-05-17T09:39:00+01:00 Firm says profit down 80% but forward order book at record level ISG became the latest contractor to say its 2020 numbers have been shredded by covid with the firm reporting pre-tax profit down last year by close to 80%. The firm behind the fit-outs of new headquarters buildings for US tech giants Facebook in King’s Cross and Apple at the Battersea power station redevelopment said profit slumped to £8.9m last year from 2019’s £44.2m. Revenue was down 23% to £2bn although its forward order book was up £100,000 to a record £1.5bn. The firm’s engineering services business, which includes includes its science and healthcare arm, saw income fall more than 60% last year ....
ISG is preparing for “significant growth” in 2022 after coming through 2020 with lower revenue but still in profit. The contractor and fit-out firm saw revenue fall to £2.04bn in 2020, more than half a billion pounds down on the record £2.59bn it reported in 2019. The company said the COVID-19 pandemic had disrupted projects in 2020, leading to some schemes being paused or having start dates delayed as clients took a cautious approach. Chief executive Paul Cossell said ISG would soon see its revenue levels growing after the setbacks of 2020. “We expect 2021 will see us return to similar financials to our record year in 2019, before returning to significant growth in 2022.” ....
By Paul Kozel I must rebuke Paul Clymer’s viewpoint column of March 17. I’m glad he is no longer in our already benighted legislature. He accuses Democrats of greed. Wasn’t he in the legislature in 2001 when its members voted themselves a 50% pension increase that was approved by Republican Gov. Tom Ridge? Talk about greed. And Democrats wanting political power? Our Republican legislators have refused for years to end gerrymandering. They know it helps them keep their cushy jobs, obscene pensions, free health care and other taxpayer funded perks like voucher-less expense claims and expensive leased cars. It wasn’t the Democrats who swallowed Trump’s blatant lie of a stolen election and tried to keep him in power by preventing a count of the electoral votes. Now, all across our beleaguered country, Republicans are passing laws to restrict voting rights. ....
Click the thumbs up > Britishvolt s new UK battery gigaplant will start production of electric vehicle (EV) batteries from 2023 and will scale to 300,000 units a year. Global construction specialist ISG has been appointed to lead the build of the £2.6 billion project located at Blyth, Northermberland. Construction will start in the second half of 2021 and once the plant is up and running it will produce lithium-ion batteries for the automotive and renewable energy industries at the end of 2023. Construction of further phases will continue until the end of 2027. The Blyth gigaplant is located 20 miles north of Nissan s Sunderland factory, which makes the Leaf EV. ....
Britishvolt appoints contractor to build £2.6bn Blyth battery gigafactory The construction project on the Northumberland coast will take six years, the firm said 13:31, 15 DEC 2020 Sign up to FREE email alerts from BusinessLive - Subscribe When you subscribe we will use the information you provide to send you these newsletters. Your information will be used in accordance with ourPrivacy Notice. Thank you for subscribingWe have more newslettersShow meSee ourprivacy notice The start-up behind a multibillion-pound plan to open a battery âgigafactoryâ in Northumberland has appointed a company to build the plant. Battery technology investor Britishvolt last week announced it hopes to invest £2.6bn in the UKâs first âgigaplantâ to manufacture electric car batteries, having selected Blyth as the site for the factory. ....