REG - Johnson Service Grp. - Pre-Close Update

Johnson ServiceAnnouncement

10/07/2024 07:00

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RNS Number : 7573V  Johnson Service Group PLC  10 July 2024

10 July 2024

AIM:  JSG

Johnson Service Group PLC

('JSG' or 'the Group')

Pre-Close Update for the Six Months ended 30 June 2024

"Full year adjusted operating profit in line with current market expectations"

 

JSG, a leading textile services provider in the UK and Republic of Ireland,
today releases an update on trading.

 

Group revenue in the six months to 30 June 2024 is expected to be £244.1
million (2023: £215.0 million), with revenue in our Workwear business of
£71.2 million (2023: £71.1 million) and in HORECA £172.9 million (2023:
£143.9 million).  On an organic basis, Group revenue is expected to have
increased by 5.7% on 2023 levels.

 

Organic growth in HORECA is expected to be 8.5% reflecting a continuing
improvement in volumes across the estate, particularly in Hotel Linen.  Our
new HORECA site in Crawley is nearing completion and eight delivery routes are
now operating from the site ahead of processing commencing in the near
future.  Workwear revenue is stable, with the gradual improvement in customer
retention and recent new sales expected to benefit performance in the second
half.

 

Bank debt (excluding IFRS 16 liabilities) was approximately £75 million at 30
June 2024, and, in the absence of any further significant capital deployment,
will reduce during the second half.

 

The Board is confident that we will report full year adjusted operating profit
in line with current market expectations.

 

The results for the six months to 30 June 2024 will be announced on 3
September 2024.

 

ENQUIRIES

 Johnson Service Group PLC
 Peter Egan, CEO
 Yvonne Monaghan, CFO
 Tel: 020 3757 4992/4981 (on the day)
 Tel: 01928 704 600 (thereafter)

 Investec Investment Banking (NOMAD)   Camarco (Financial PR)
 David Flin                            Ginny Pulbrook
 Carlton Nelson                        Rosie Driscoll
 Virginia Bull                         Letaba Rimell
 Tel: 020 7597 5970                    Tel: 020 3757 4992/4981

 

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