Construction services group ISG has reported a £27.8m loss for the year to 30th June 2015 after what it described as the “painful restructuring” of its UK Construction division.

After reporting an underlying £7.2m loss in the first half of the year, ISG made an underlying profit of £14.2m in the second half.

Revenues rose to £1.6 billion from £1.4bn but the group’s loss of £27.8m comes against a profit of £2.4m last year.

ISG said it remains confident its construction woes are behind them.

Chief executive David Lawther said: “It has been a challenging year for ISG, with the group performance significantly impacted in the first half by the losses in our UK Construction division. We delivered a significantly stronger second half performance, with good results especially in our specialist fit out, engineering services and retail businesses.

“We believe that the poor performance and painful restructuring of the UK Construction division is now behind us, and with the outlook for most of our key markets remaining strong, we expect a much improved overall performance for the Group in the year ahead.”