Derby rail services firm posts big hike in turnover
Derby-based rail services provider ISS Labour doubled its turnover in the past two years and is putting the increase down to national rail investment.
The business manages and supplies a delivery service in track renewals, projects, maintenance and minor works within the UK rail and light-rail sectors. It is part of recruitment group Specialist People Services (SPS).
ISS Labour posted revenues of £23m in the financial year to March 2017, a rise from the £13.5m for the year ending March 2015.
ISS Labour says the growth in revenues has been enabled by large infrastructure upgrades across the country as part of Network Rail’s £38bn investment into the rail network. These include projects such as Crossrail, the North West Electrification Programme and Patchway Tunnel Improvements in the South West.
Chris Chidley, chief executive of SPS, said: “Network Rail is now over halfway through delivering its £38bn pipeline of works, the biggest investment seen since the Victorian era. It has represented an exciting period for the industry with a lot of growth opportunities across the UK. Our relationship with Network Rail and the major contractors that supply them have put us in a strong position as we look to continue our expansion.”
In the past 12 months, ISS Labour has further diversified its operations by launching a trades division to supply civil engineering, white and blue collar trades and traffic management roles. In its first year, the division generated revenues of £1.3m following large contract wins with Mouchel and A-Plant. The firm expects to double this in its second year of trading.
ISS Labour has also generated revenue from other areas of the business, including its training centre in Salford and its lighting division, which has grown to be the largest temporary track lighting and fencing supplier in the UK.
Chidley added: “We are proud of both our financial success and the stellar reputation we have built as a reliable, high-quality supplier to the rail industry. This is reflective of the ambitions of the wider SPS group to constantly strive to be the market leader in our respective fields.
“The focus now is to make sure this continues and investing in our workforce so they have the skills to supply new markets and diversifying our offer to meet new client demands will be key to this.”
SPS is backed by private equity investor LDC. The group also includes Driver Hire Nationwide, the UK specialist transport and logistics recruiter, driver CPC training provider Driver Hire Training and international arm Driver Hire Australia.
