Share Name Share Symbol Market Type Share ISIN Share Description
Johnson Service Group 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
  +0.50p +0.36% 138.50p 138.00p 138.75p 139.25p 137.00p 137.00p 251,701 16:35:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 256.7 25.9 5.9 23.5 507.59

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Date Time Title Posts
10/8/201719:43JSG: A (dry) clean sweep recovery play?845
06/5/201007:57Jonson Services - JSG Profit Warning - Price target 250p16
11/8/200909:11JSG Ready to Jangle939
03/3/200821:03The Johnson Service Group Thread2
05/7/200207:43JOHNSON SERVICE - JSG-

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Johnson Service Daily Update: Johnson Service Group is listed in the Support Services sector of the London Stock Exchange with ticker JSG. The last closing price for Johnson Service was 138p.
Johnson Service Group has a 4 week average price of 128.75p and a 12 week average price of 120p.
The 1 year high share price is 140.50p while the 1 year low share price is currently 97p.
There are currently 366,490,939 shares in issue and the average daily traded volume is 246,179 shares. The market capitalisation of Johnson Service Group is £507,589,950.52.
yogi: Quiet here but share price is in break out territory. Trading statement was was also positive ahead of interims. Anyone else holding, I came on board recently and pleased so far....
liberatingsteptoe: It looks like an investment that is coming back. It will take time but I believe that the share price will recover much more. Patience is needed. Ls
wad collector: Our view: Buy Johnson Service Our view: Buy Share price: 31.25p (unchanged) It's fair to say that Johnson Service has a low profile compared with other businesses that consumers come into regular contact with. But the firm, which provides facilities management services to shops and schools, and lends bed linen and towels to hotels, has delivered a strong turnaround out of the limelight since its previously hefty pension deficit, as well as debts of £170m, left it looking decidedly wobbly in 2008. Johnson Service provided further evidence of its rebound yesterday. Its three divisions all grew their bottom line, which resulted in a 5 per cent rise in pre-tax profits to £6.5m for the half-year to 30 June. While its facilities management division enjoyed an uplift from new contract wins, the dry-cleaning arm – best-known for its Johnson Cleaners presence on the high street – benefited from "considerable" investment and grew revenues despite the challenging conditions for consumers. More importantly, the group slashed its pension deficit to £3.2m from £11.2m last year, while a more modest reduction in its net debt leaves it only £51m in the black. Investors also toasted a 22 per cent rise in its interim dividend to 0.33p. Bolstering the investment case is the thin valuation, with Johnson trading on a modest forward earnings multiple of 6.8 times.
liberatingsteptoe: The silence is as deafening as a dry cleaning drum running on teflon bearings...... Not a bad day. Were those really all buys? Share price up, so probably.... Anybody out there? LS
master rsi: The volume for the last 3 days has been large as the share price has move higher from the latest low Positive level 2 at the moment 2 v 1 on a larger spread 34 / 35p
master rsi: Intitutions are buying early on the morning 407K at 34.11p had payed at 8:06 am and share price moving higher accordingly are small investors want part of the pie
grahamg8: The Directors share hand out is based on the share price plus any dividends paid. So to reach the 40p threshold looks like childs play. So I agree with graham142 to get 1/3 of this massive hand out for doing virtually nothing but keeping the ship afloat is greedy indeed. On the other hand to get the combined value up to 60p by 31/12/2013 will take a bit of effort. So the principle looks correct but the lower trigger point seems to be far too generous. All we now need to do is vote against the proposal at the next AGM. No doubt there will still be far too many sheep nodding it through but a sizable NO vote will perhaps make them realise we are not all stupid.
idomeneo: The Chief Exec needs the share price to be at least 45p and well over 60p by the summer for his substantial share options to be worth anything or they will lapse. He joined the company to collect the big money - this will double by July.
mesquida: And note the increased dividend, which the market certainly was not expecting. In my opinion the share price is being held back by just one large seller whose reasons for selling may have nothing to do with the outlook for JSG. Once this seller has cleared his stock out then I see no reason why we should not see this price back up at 24p/25p.
chrysippus: Hi KatyLied - Re your comment about the 20p shares and the under-subscription. You got me thinking about the situation with respect to past and potential dilution and whether there is a massive overhang somewhere. I don't think it's 'out there' for any particular corporate reason. Here's what the horse's mouth says from the 2008 Annual Report (p. 76) "Placing On 11th June 2008, the Group announced a conditional non pre-emptive placing to institutional and other professional investors of 150,000,000 new Ordinary Shares at 20 pence per Ordinary Share. The placing duly completed on 7th July 2008, raising £30 million (£27.8 million net of expenses). The placing represented approximately 252.2 per cent. of the existing issued share capital of the Group as at 11th June 2008 and approximately 71.6 per cent of the issued share capital of the Group post placing. Open Offer On 6th August 2008, the Group announced that it proposed to raise up to approximately £10 million (£9 million net of expenses) by way of an open offer made to qualifying shareholders and warrant holders of up to 49,945,035 open offer shares at the issue price of 20 pence per open offer share. The principal reason for making the open offer was to provide qualifying shareholders an opportunity to invest in the Group at the same price at which the placing share were issued and to mitigate the dilutive effects of the placing. The minimum pro rate entitlement of qualifying shareholders and warrant holders under the open offer was calculated on the basis of 8 open offer shares for every 10 Ordinary Shares or entitlement to 10 warrant shares (as the case may be) held. The open offer duly completed on 8th September 2008, raising £8.0 million (approximately £7.2 million net of expenses). The 39,828,824 shares issued as a result of the open offer represent approximately 19.0 per cent of the existing issued share capital of the Group as at 6th August 2008 and approximately 16.0 per cent of the issued ordinary share capital of the Group post open offer." I'm not an expert, so it's just an opinion I think this means that the placing ('to institutional and other professional investors') at 20p got away fully subscribed (raising £30m gross = 150m/20p) and there was a subsequent open offer so that non-professional investors could 'mitigate the dilutive effects of the placing'. It was this that was 20% undersubscribed. I don't think this means they exist anywhere to come on the market, simply that they weren't issued. From the same Annual Report (pp. 76 - 77) the whole story of the shares is told. To summarise: Issued shares 249,302,482 Potentially exercisable in incentive or share schemes 15,221,923 (this is the theoretical maximum and many not exercisable until 2011 onwards or on achievement of stable share price increase) Warrants to banks (issued during debt renegotiation April 08) 2,957,636 This makes the theoretical maximum issued shares now 267, 482, 041. Basically, for the purpose of considering JSG as an investment, it's reasonable to use the 250m number as a rule of thumb that will rise as warrants, incentive schemes or saving schemes are exercised but probably only very gradually (e.g. in 2007, 350k were exercised, none in 2008). You might think both the banks and the option holders will probably wait to exercise until the share price is higher than now. As usual, if anyone else can take a look and see something different, please post. 2008 Annual report - Best wishes Chrysippus
Johnson Service share price data is direct from the London Stock Exchange
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