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ISS results show growth in profit13th of May 2011
Global building services provider ISS achieved almost six per cent organic growth and a rise in profits of seven per cent during the first quarter of this year - according to its results which have just been announced.
Revenue from continuing business grew by 10 per cent in the period January 1 to March 31 this year, while total revenue increased by 8 per cent to 2.5 billion euros. Operating profit before other items went up seven per cent to 116 million euros.
Organic growth was 5.8 per cent, up from four per cent in the last quarter of 2010 and two per cent in the first quarter of 2010. Six of the seven ISS regions achieved positive organic growth with Latin America, North America and Asia delivering double-digit increases.
ISS Group ceo Jeff Gravenhorst commented on the results: "This was a quarter with a strong ramp-up in organic growth driven by contract wins, successful implementation of large Integrated Facility Services contracts, and continued strong development in emerging markets.
"We won important contracts with Statoil, Shanghai Pudong International Airport, New South Wales Government Schools and Royal Air Force during the quarter," Gravenhorst continued. "Asia and Latin America again delivered high double-digit organic growth for the quarter, and emerging markets where half of our global staff is employed delivered 15 per cent organic growth."