Pre-Close Trading Statement (3976J)
30 Junho 2011 - 3:00AM
UK Regulatory
TIDMJSG
RNS Number : 3976J
Johnson Service Group PLC
30 June 2011
30th June 2011
Johnson Service Group PLC
Pre-Close Trading Statement
The Board expects to achieve an overall result which is in line
with its expectations for both the first half and the full
year.
Textile Rental
The Textile Rental division has continued to perform strongly in
the first half, in line with our expectations.
Slightly higher revenue, due to a combination of new sales wins
and increased activity from within continuing accounts, has been
offset by the anticipated cost increases within the supply
chain.
Despite ongoing cost pressures, we expect to see a continuing
strong performance from this Division in the balance of the
year.
Facilities Management
Divisional revenue and operating profit has continued to benefit
from the PFI contracts acquired mid - 2010. The potential order
pipeline for this Division has been strengthened considerably over
the past year resulting in a number of contract wins. These are now
starting to generate income and we remain confident about the
prospects for this Division.
Drycleaning
We expect Divisional operating profit to be slightly ahead of
the same period last year. Like for like sales are expected to be
overall some 1% down but these mask considerable weekly
fluctuations including the benefit of a normal weather pattern in
January 2011 compared to the snow of the previous year.
We introduced new services to enhance our laundry offering to
almost half of our locations during May and June and we anticipate
that this, together with a continuing focus on controlling costs,
will enhance the results of the Division in the second half.
Net Debt
Net debt at the end of June is expected to show a significant
reduction from the GBP59.5 million at December 2010. As reported in
March 2011, we received a tax repayment of GBP5.8 million plus
interest in February 2011 which has reduced our net debt position
at June 2011. This amount remains subject to agreement with
HMRC.
We anticipate announcing the results for the first half of 2011
in mid to late September 2011.
Enquiries:
Johnson Service Group PLC
John Talbot, Executive Chairman Yvonne Monaghan, Finance Director
Tel: 01928 704600 Tel: 01928 704600
Threadneedle Communications
Graham Herring/John Coles
Tel: 020 7653 9850
Investec Investment Banking
David Flin Martin Smith
Tel: 020 7597 4000 Tel: 020 7597 4000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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