Textile Rental continues to win new accounts, Johnson Service
John Talbot, Executive Chairman of Johnson Service Group
Johnson Service Group PLC, the textile services and facilities management Group announces its interim results for the half year ended 30 June 2009.
Overview
• Traded well in challenging market conditions
• Adjusted operating profit of £7.5 million (June 2008: £7.7 million)*
• Adjusted profit before tax of £4.8 million (June 2008: £0.4 million)**
• Adjusted earnings per share of 1.3 pence (June 2008: 0.4 pence)**
• Net debt reduced to £75.5 million (December 2008: £78.5 million)
• Stalbridge Linen returned to profit
• Johnson Cleaners has performed ahead of our expectations
• A good first half in terms of new contract wins for SGP
• Resumption of dividend payments – interim dividend of 0.25p
For Financial Summary Click here.
John Talbot, Executive Chairman of Johnson Service Group, commented:“I am pleased to report that we have traded well in the first half of the year in challenging market conditions.
Our Textile Rental division is robust and has continued to win new accounts. We are delighted that Stalbridge Linen Services has reported a small adjusted operating profit."
"The Drycleaning division has performed ahead of our expectations, despite the depressed state of the High Street, as we continue to manage costs and invest in GreenEarth stores. SGP, in the Facilities Management division has had a good first half in terms of new contract wins, although there has been no upturn from Agency or Capital projects."
"Despite the challenges of the economy both on us directly and indirectly through our customers, the Board is confident in achieving a satisfactory result for the year.”
Johnson Service Group PLC
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