Johnson Service Group PLC AGM Statement (1973K)
04 Maio 2022 - 3:02AM
UK Regulatory
TIDMJSG
RNS Number : 1973K
Johnson Service Group PLC
04 May 2022
4 May 2022
AIM: JSG
Johnson Service Group PLC
("JSG" or "the Group")
AGM Statement
JSG, a leading UK textile services provider, will be holding its
Annual General Meeting today and will make the following
statement:
"Workwear volumes are remaining stable leading to like-for-like
revenue growth in excess of 3% compared to the first quarter of
2021. In HORECA, as previously stated, the volumes in January and
February were 70% and 85%, respectively, of normal. Volumes
improved further in March to 89% of normal whilst like-for-like
revenue in the month, compared to 2019, was up 1.2%. Volumes
continued to increase in the first half of April, averaging 91% of
normal. Our customers are expecting a strong summer season and we
have plans in place to ensure that our processing capacity can meet
this increasing demand. In addition, there is an encouraging
pipeline of new business opportunities comprising both new openings
from existing customers as well as new customers.
We are nearing the completion of the major capital investment
projects in Belfast and at our largest linen plant in Bourne in
line with those plans.
Inflationary pressures remain but energy costs, in particular,
have currently receded from the highs of early March. Some 87% of
our anticipated gas requirement for the remainder of this year is
fixed at prices significantly below the current day ahead rate. We
have secured price increases across our customer base which will
offset the cost inflation that we are experiencing in the current
environment and we will continue to take appropriate mitigating
actions as necessary.
Volumes are continuing to improve to what we expect to be more
predictable and normal levels. Reflecting this expectation, it is
the Board's current intention to re-commence dividend payments at
the time of the Interim results announcement in September 2022.
We remain confident in our medium and long-term growth
prospects."
ENQUIRIES
Johnson Service Group PLC
Peter Egan, CEO
Yvonne Monaghan, CFO
Tel: 01928 704 600
Investec Investment Banking (NOMAD) Camarco (Financial PR)
David Flin Ginny Pulbrook
Carlton Nelson Rosie Driscoll
Virginia Bull Toby Strong
Tel: 020 7597 5970 Tel: 020 3757 4992/4981
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END
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May 04, 2022 02:02 ET (06:02 GMT)
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