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ISS records steady financial year12th of March 2013
Global building services provider ISS has just announced its full year financial results for 2012 - showing an increase in turnover of 2.3 per cent and organic growth rate of 1.7 per cent.
Operating profit amounted to 591.8 million euros before other items - or 5.6 per cent - an increase of one per cent. Net profit was 59.6 million euros, 13 per cent up on 2011. Western Europe, Latin America and Asia all delivered positive organic growth rates.
ISS Group ceo Jeff Gravenhorst commented on the results: "In light of the current global macroeconomic climate, the progress we made in 2012 with our ongoing strategic transformation was satisfactory. We secured a number of new global and regional contracts, including two of the largest global contracts in the history of ISS, and we welcomed two new investors, resulting in a significantly stronger capital structure of ISS.
"Given the market situation in many of our developed markets, we are particularly proud of the continued profitable overall growth and our ability to continue to generate strong cash flows. We are currently well on track implementing new sizeable global and regional contracts."
Meanwhile, Leif Östling, deputy chairman of the board of directors of ISS and ISS World Services, has decided to leave the boards after more than seven years of service to free up time for his new tasks as a management board member of Volkswagen.
Sir Charles Allen and Thomas Berglund have been elected new members of the Board of Directors of ISS and ISS World Services.