Cash Received from Disposals

 
                                                 2010   2009 
                                                 GBPm   GBPm 
 
 Cash received from the disposal of Workplace 
  Engineering                                     0.1    0.2 
 Total cash received in respect of disposals 
  included within the Statement of Cash Flows     0.1    0.2 
----------------------------------------------  -----  -----

The cash flows (excluding proceeds from disposal) from discontinued operations included within the Consolidated Statement of Cash Flows are as follows:

 
                                                   2010    2009 
                                                   GBPm    GBPm 
 
 Net cash (used in) / generated from operating 
  activities                                      (0.6)     0.1 
 Net cash used in investing activities                -   (0.2) 
 Net cash flow                                    (0.6)   (0.1) 
-----------------------------------------------  ------  ------

NOTES TO THE PRELIMINARY ANNOUNCEMENT (continued)

11 ANALYSIS OF NET DEBT

Net debt is calculated as total borrowings less cash and cash equivalents (excluding Lifecycle funds), less unamortised facility fees.

 
                                 At 1                   Other 
                              January                Non-cash   At 31 December 
                                 2010   Cash Flow     Changes             2010 
                                 GBPm        GBPm        GBPm             GBPm 
 
 Cash and cash equivalents 
  - per Statement of Cash 
  Flows                           0.2       (1.6)           -            (1.4) 
 Less: Lifecycle funds              -       (1.8)           -            (1.8) 
--------------------------  ---------  ----------  ----------  --------------- 
 Cash and cash equivalents 
  (excluding Lifecycle 
  funds)                          0.2       (3.4)           -            (3.2) 
 Debt due within one year       (7.2)         5.0           -            (2.2) 
 Debt due after more than 
  one year                     (59.5)         7.5       (0.7)           (52.7) 
 Finance leases                 (1.2)         0.8       (1.0)            (1.4) 
--------------------------  ---------  ----------  ----------  --------------- 
                               (67.7)         9.9       (1.7)           (59.5) 
--------------------------  ---------  ----------  ----------  ---------------

Non-cash changes represent the effects of the recognition and subsequent amortisation of issue costs relating to the bank facility and new finance leases entered into during the year.

12 RECONCILIATION OF NET CASH INFLOW TO MOVEMENT IN NET DEBT

 
                                                         2010     2009 
                                                         GBPm     GBPm 
 
 Decrease in cash during the year - per Statement 
  of Cash Flows                                         (1.6)    (5.0) 
 Movement in Lifecycle funds                            (1.8)        - 
----------------------------------------------------  -------  ------- 
 Decrease in cash excluding Lifecycle funds             (3.4)    (5.0) 
 Cash outflow on change in debt and lease financing      13.3     14.5 
----------------------------------------------------  -------  ------- 
 Change in net debt resulting from cash flows             9.9      9.5 
 Movement in unamortised issue costs of bank 
  loans                                                 (0.7)      1.0 
 New finance leases                                     (1.0)        - 
 Other non-cash movement in net debt                        -      0.3 
 Movement in net debt in year                             8.2     10.8 
 Opening net debt                                      (67.7)   (78.5) 
----------------------------------------------------  -------  ------- 
 Closing net debt                                      (59.5)   (67.7) 
----------------------------------------------------  -------  -------

13 ABRIDGED ACCOUNTS

The financial information set out above does not constitute the Company's statutory accounts for the years ended 31st December 2010 or 31st December 2009 within the meaning of Section 434 of the Companies Act 2006, but is derived from those accounts.

Statutory accounts for 2009 have been delivered to the Registrar of Companies, and those for 2010 will be delivered as soon as practicable but not later than 30th April 2011. The Auditors have reported on those accounts; their reports were unqualified and did not contain a statement under Section 498(2) or (3) of the Companies Act 2006.

14 FORWARD LOOKING STATEMENTS

Certain statements in this Preliminary Announcement are forward-looking. The terms 'expect', 'should be', 'will be' and similar expressions identify forward looking statements. Although the Board believes that the expectations reflected in these forward-looking statements are reasonable, such statements are subject to a number of risks and uncertainties and actual results and events could differ materially from those expressed or implied by these forward-looking statements.

15 PRELIMINARY ANNOUNCEMENT

A copy of this Preliminary Announcement is available on request to all Shareholders by post from The Company Secretary, Johnson Service Group PLC, Johnson House, Abbots Park, Monks Way, Preston Brook, Cheshire WA7 3GH. The Announcement can also be accessed on the Internet at www.johnsonplc.com.

The Annual Report will be posted to Shareholders on or before 18th March 2011.

16 APPROVAL

The Preliminary Announcement was approved by the Board of Directors on 8th March 2011.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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