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JSG Johnson Service Group Plc

131.40
0.60 (0.46%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Johnson Service Group Plc LSE:JSG London Ordinary Share GB0004762810 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.60 0.46% 131.40 130.20 131.20 132.60 129.40 132.60 292,748 16:35:27
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Business Services, Nec 385.7M 29M 0.0700 18.60 539.57M

Johnson Service Group PLC Trading Update and Acquisition (0312B)

05/01/2018 7:00am

UK Regulatory


Johnson Service (LSE:JSG)
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TIDMJSG

RNS Number : 0312B

Johnson Service Group PLC

05 January 2018

5 January 2018

AIM: JSG

Johnson Service Group PLC

("JSG" or "the Group")

Pre-close Trading Update and Acquisition of StarCounty Textile Services Limited ("StarCounty")

JSG, a leading UK textile rental provider, is pleased to provide a trading update for the six months to 31 December 2017 and announce the acquisition of StarCounty Textile Services Limited, which was completed on 11 December 2017.

The Group has continued to trade well in the second half of the year, with results for the full financial year expected to be slightly ahead of management expectations.

The Board has previously communicated its focus on considering further opportunities to develop the business and is therefore pleased to announce the acquisition of the entire share capital of StarCounty, a specialist hotel and catering linen business for a total cash consideration of GBP3.9 million, on a debt free, cash free basis, including a freehold site valued at GBP0.9 million.

StarCounty, based in Wrexham, has been operating in the North West and the Midlands for over 50 years, serving a range of customers including budget hotel chains, country house hotels, restaurants and catering establishments. The acquisition will support and extend the geographical coverage of our Stalbridge Linen brand across the North West and West Midlands, increasing its processing capacity and also improving the efficiency of the logistics network.

Results for the full year are expected to be published on 27 February 2018.

Chris Sander, Chief Executive Officer of JSG, said:

"We are delighted with another period of strong trading. In addition, the acquisition of StarCounty announced today helps us further develop the business in line with our strategy, increasing our presence in the North West and the West Midlands and enhancing the quality of service we can offer our customers in the region."

Enquiries:

 
 Johnson Service Group 
  PLC 
 Chris Sander, CEO 
 Yvonne Monaghan, CFO 
 Tel: 01928 704600 
 
 Investec Investment Banking   Camarco (Financial PR) 
  (NOMAD) 
 David Flin                    Ginny Pulbrook 
 Darren Vickers                Ben Woodford 
                               Tom Huddart 
 Tel: 020 7597 4000            Tel: 020 3757 4991 
 

About Johnson Service Group PLC

www.jsg.com

Headquartered in Preston Brook, Cheshire, JSG provides textile rental and related services across the UK. The Group is the leading supplier of workwear and protective wear in the UK, clothing over 1.3 million people a week. It also provides premium linen services for the hotel, catering and hospitality markets, and high-volume hotel linen services, processing approximately 8.5 million items a week. With its core values of quality, reliability and service, the Group aims to provide customers with an outstanding level of customer care.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

January 05, 2018 02:00 ET (07:00 GMT)

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