UK's Johnson Service rises on higher quarterly revenue

Johnson Service

01/05/2024 11:44

** British textile rental company Johnson Service Group's
 JSG.L  shares up 9.5% at 142p; stock among top gainers across
London's stock market
    ** On track for bigger one-day pct. rise since Sept. 5 if
gains hold
    ** Co posts quarterly revenue of 114 mln pounds ($142.33
mln), up about 16% from a year earlier
    ** Sees overall group adjusted operating margin of at least
14.0% in 2026
    ** "Johnson possesses strong forecast upside potential as a
result of its strong balance sheet optionality and potential
margin recovery back to 2019 levels, with management being
confident of an EBITA margin of at least 14% being achieved in
2026" - analysts at Peel Hunt  
    ** As of last close, stock down about 7.5% YTD
    
  
($1 = 0.8010 pounds)

 (Reporting by Radhika Anilkumar in Bengaluru;)
 ((Radhika.Anilkumar@thomsonreuters.com;))