Phoenix ME rides out ISG collapse with record 74% turnover surge

London M&E specialist Phoenix ME has bounced back strongly after being caught in the collapse of main contractor ISG, posting a 74% jump in turnover to £295m last year.
Despite the collapse of one of its biggest contractor clients mid-project, the firm successfully re-engaged with end clients and replacement main contractors to safeguard work across affected sites.
Pre-tax profits rose to £10.7m, up from £7.4m the previous year while operating margin held steady at 3.6%.Pho