UK's Johnson Service H1 revenue edges higher on Workwear unit strength
UK's Johnson Service H1 revenue edges higher on Workwear unit strength
Overview
UK textile rental provider's H1 2026 revenue rose 0.2% yr/yr amid mixed segment performance
Adjusted operating profit and margin improved, reflecting operational efficiencies and disciplined cost management
Company progressing with £55 mln share buyback, about 51% completed by August 2026
Outlook
Johnson Service expects full-year 2026 adjusted operating margin of at least 14%
Company anticipates softer trading in HORECA to persist for the remainder of 2026
Workwear is expected to benefit from stable volumes and customer price increases
Result Drivers
OPERATIONAL EFFICIENCY - Co said margin improvement reflected focus on operational efficiencies and disciplined cost management
SEGMENT TRENDS - Workwear revenue rose on stable volumes and price increases; HORECA revenue fell amid suppressed volumes and higher churn
LOWER ENERGY COSTS - Energy costs as a percentage of revenue declined, supported by hedging and fixed contracts
Company press release: ID:nRSH7595Ta
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 258 mln |
|
H1 Adjusted Pretax Profit |
| GBP 25.30 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for Johnson Service Group PLC is GBp189.00, about 31.5% above its September 7 closing price of GBp143.70
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)