Johnson Service Group PLC Pre-Close Update (6868T)
26 Julho 2022 - 3:00AM
UK Regulatory
TIDMJSG
RNS Number : 6868T
Johnson Service Group PLC
26 July 2022
26 July 2022
AIM: JSG
Johnson Service Group PLC
('JSG' or 'the Group')
Pre-Close Update
JSG, a leading UK textile services provider, today releases an
update on trading.
Group revenue in the six months to 30 June 2022 was GBP176.2
million (2021: GBP99.6 million) reflecting, in particular, the
continuing recovery in our HORECA business. On an organic basis,
revenue in the first half increased 73.0% on 2021 levels and, on
the same basis, was 1.5% behind the pre-pandemic revenue posted in
the first half of 2019.
Workwear revenue increased slightly to GBP66.0 million (2021:
GBP64.5 million) and we anticipate a further increase in the second
half.
HORECA volumes in the second quarter were 91% of normal. Total
revenue in the six months to 30 June 2022 was GBP110.2 million
(2021: GBP35.1 million). We continue to see an encouraging pipeline
of new business opportunities comprising both new sites from
existing customers as well as new customers and we expect to instal
further customer locations in the coming months.
Cost inflation, in respect of energy in particular, persists. We
have continued to proactively trade in the energy market when
appropriate such that 89% of our anticipated gas requirement and
50% of our anticipated electricity requirement for the remainder of
this year, is now fixed at prices significantly below the current
day ahead rate. We continue to secure and implement price increases
across our customer base which, along with additional volume which
will better utilise our labour resource and improve processing
efficiency, will help offset cost inflation and we will continue to
take appropriate mitigating actions as necessary.
Based on our assumption that volumes follow the normal seasonal
pattern over the coming months and are not impacted by a reduction
in discretionary spending, we expect the full year outturn to be in
line with current market expectations. The Board's current
intention remains to re-commence dividend payments at the time of
the interim results announcement on 1 September 2022.
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 4981/4992
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END
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July 26, 2022 02:00 ET (06:00 GMT)
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