Johnson Service Share Discussion Threads

[wskill] 18/2/2010 09:13

Looks a decent company to me and I will continue to add on the dips as the recent IMS said the company will meet expectations but keep bashing as am managing to get them at a better price thank you



As indicated in December, the Group traded satisfactorily during 2009 giving an
overall result in line with expectations despite the challenging conditions
within the UK economy throughout the last 12 months.

Textile Rental

Profits in the Textile Rental division are expected to show a modest increase
over 2008 despite lower revenue. As reported at the half year, the Textile
Rental division has been impacted by both a higher incidence of business
closures and by reduced spending by existing customers. This has resulted in
reduced revenue and profitability in Johnsons Apparelmaster compared with 2008,
with the second half revenue similar to that experienced in the first 6 months
of 2009. We are pleased with new customer wins and we believe that we are
continuing to gain market share.


Stalbridge has continued to focus on customer service and has had success in
winning new customers. It has traded above our expectations in the second half,
as the business continued to improve efficiency, and it has made a contribution
of some GBP1 million for the year as a whole as compared to the GBP0.5 million
loss incurred in 2008.

Drycleaning

Our Drycleaning business has continued to see varying levels of high street
spending and like for like sales in the second half were only slightly improved
on those experienced in the first half. The investment in modernising stores to
promote the GreenEarthtechnology has continued and we remain encouraged by the
revenue growth in the GreenEarth branded stores. However, although management
action had been taken to reduce costs, profits were lower than in 2008,
exacerbated by the very poor weather in December.




Facilities Management

SGP has achieved modest profitability and revenue growth in a very difficult
market in 2009, absorbing the impact of the recent failure of Threshers and the
continuing pattern of existing customers restricting their spending levels,
including that on major project work.

A significant number of contract renewals have been signed during 2009 in
addition to new wins such as Subway, Scottish & Newcastle and South West Hants
LIFT, all of which are now on stream. The expansion of the Public Sector PFI
contract portfolio continued with Worcester Library, due to come on stream at
the end of 2010.

In 2010 we are intending to invest in additional infrastructure to enable the
SGP management team to achieve accelerated growth in the medium to longer term,
although this will restrict profit growth in the current year.

Net Debt

Net debt at the end of December is expected to be approximately GBP68.0
million (June 2009: GBP75.5 million). As announced on 21st December 2009 the
Group has secured new bank facilities to April 2013 at an initial amount of
GBP78.5 million.

Summary

Trading conditions remained challenging throughout 2009 and in these
circumstances we are pleased to be anticipating an overall result in line with
expectations.

[ls lowry] 18/2/2010 09:00

Avoid too much debt and unliked.

[investinggarden] 29/1/2010 11:23

Speculative Buy rating from Growth Company Investor

[envirovision] 27/1/2010 12:07

I expect this to fall to 15p, infact 12p is possible in the next 6 months.

[cockneyrebel] 18/1/2010 18:21

still holding the ones I've held for ages - not inclined to sell. Not sure I want to buy any more just yet tho - th volum of shares that go through here at times is amazing. I think you'd get a better feel for the share if they did a consolidation of say 1 new share for every 10 old shares. For a market cap of £54m the amount of £20K to £50K trades that go through are staggering.

You look at HRN which has a similar market cap and that goes all day without a trade or one £5K trade in a day being common.

50% of the shares ar in the hands of the large holders too - I dunno where all these shares come from. Frequently see 500K (£100K+) go through yet wuth HRN if I saw that I'd have kittens it's so rare.

Been like this for a couple of years too - unbeliveable volume every day for a £54m mkt cap imo.

CR

CR

[chrysippus] 18/1/2010 17:59

Well that was well behaved...

[chrysippus] 15/1/2010 17:40

Expect this to get back to its 22-24p trading range.

Exciting, isn't it?

Good weekend all

Best wishes

Chrysippus

[owenski] 08/1/2010 14:16

Good entry level I guess if one has a mind to wait for recovery, debt reduced, anemic profits likely, credit to Talbot though, tough job in difficult climate, just didn't see anything to tempt me in at this point.

G'luck all

[neg] 08/1/2010 10:32

Sold mine this morning too. You need to have very rose tinted spectacles to read this statement in a positive light. In my opinion these shares will not move over the next six months and there are so many other companies who are exceeding expectations.

[fozzie] 08/1/2010 09:33

Well my first inclination was to sell, i took my son to school, come home and down £1200 hey ho! I have sold anyway. I dont see anything in the t/s that makes me want to keep that amount of money invested here when there are so many other opportunities at the present time. CR?

[fozzie] 08/1/2010 07:56

Its positive but only if you read it twice. Very understated language. Performing well in tricky conditions. Two divisions up and two ahead in profit although on reduced t/o. Debt paid down slightly. Could there have been a little more meat on the bones?

[cockneyrebel] 08/1/2010 07:53

Good statement - never overly bullish in what they say outside the results but think they are likely to do better than meet forecasts on that.

CR

[mreasygoing] 07/1/2010 23:40

Nice to see this moving up before the news. Lets hope its onwards and upwards. One of the forgotten shares in this past year's market recovery.

[angora7] 07/1/2010 16:08

Oh well, time will tell I guess.

[love it] 07/1/2010 15:52

Is that break out?


Lets hope for holders its a good one

[fozzie] 07/1/2010 15:32

Well there has been no heavy buying or run up in the share price ahead of results so fingers crossed for an upbeat t/s a nice rise thereafter. TTG looking similar CR.

[cockneyrebel] 07/1/2010 15:01

Ticking up fozzie - t/s tomorrow :-)

CR

[fozzie] 07/1/2010 13:51

Got to say i am surprised by the lack of interest here with a t/s imminent, and expected some more buying ahead of it. Its a bit late to start now but welcome all the same.

[boozey] 07/1/2010 13:48

Trading Statement tomorrow. Fill your boots now.

[boozey] 05/1/2010 08:47

chrysippus. I agree. Been in this for over a year and happy to sit on it as a 2 to 3 year recovery play. The trading statement this week is key in my mid term aspirations for this share. the last 2 months have positioned us well for a positive update but nothing can be taken for granted in this game.

[chrysippus] 05/1/2010 08:44

Also taken a bit more off that debt before Christmas with a tax rebate... and a quite bb - ticks all the boxes...!

Probably safe to buy here but buy and hold - not a trading share imo

My bet is we'll see long periods of narrow trading ranges punctuated by rises...

Best wishes

Chrysippus

[boozey] 05/1/2010 08:35

Yes, also pays a dividend with a reasonable yield, has renegotiated its finances and has disposed of loss making business. A good recovery play lead by Talbot's management team picking up the pieces of a sustained period of mis-management by the former directors which almost made the company bust.

[cockneyrebel] 04/1/2010 19:35

Agree, possible doubler here Boozey :-)

Lookin gfwd to the t/s.

CR

[boozey] 04/1/2010 19:29

Trading Statement here this week. Is one of my shares to double in 2010 (bound to put the dampeners on it!) but takes second place to the stock I already posted as mu share of the year on CR's 100% thread!