Danish service sector giant ISS reported a net loss of DKK 25 million in the first quarter of 2011. However this figure compares favorably with a Q1 2010 loss of DKK 197 million, and is countered in part by an impressive operating profit
The multinational concern’s Q1 2011 results included a raft of generally positive figures. Organic growth stood at 5.8 percent compared to 2.1 percent. during the same period last year. Revenue was almost 19 billion. million, while operating profit before certain items stood at DKK 864 million, higher than a previous company estimate of DKK 850 million.
“This was a quarter with a strong ramp up in organic growth driven by contract wins..and continued strong development in emerging markets” ISS Group CEO Jeff Gravenhorst, , said in the statement. “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 percent organic growth”
In March the company called off a billion dollar Initial Public Offering (IPO) due in part to financial instability caused by the Japananese earthquake and the popular uprisings in North Africa. The company intends to provide new information on a forthcoming stock market flotation “when it is appropriate”