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 Shares Traded Last Trade
  0.00 0.0% 161.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
160.00 161.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 350.60 38.10 8.40 19.2 715
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 161.00 GBX

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Date Time Title Posts
05/2/202113:44JSG: A (dry) clean sweep recovery play?914
06/5/201006:57Jonson Services - JSG Profit Warning - Price target 250p16
11/8/200908:11JSG Ready to Jangle939
03/3/200821:03The Johnson Service Group Thread2
05/7/200206:43JOHNSON SERVICE - JSG-

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Johnson Service Daily Update: Johnson Service Group Plc is listed in the Support Services sector of the London Stock Exchange with ticker JSG. The last closing price for Johnson Service was 161p.
Johnson Service Group Plc has a 4 week average price of 135p and a 12 week average price of 120.40p.
The 1 year high share price is 196.40p while the 1 year low share price is currently 77.80p.
There are currently 444,252,075 shares in issue and the average daily traded volume is 2,396,465 shares. The market capitalisation of Johnson Service Group Plc is £715,245,840.75.
wad collector: I missed the TU last week "ohnson Service Group PLC ("JSG" or "the Group") Pre-close Trading Update JSG, a leading UK textile services provider, is pleased to provide a trading update for the year ended 31 December 2020. Trading since our previous update on 17 November 2020 has continued to be impacted by the various lockdowns and Tier restrictions, particularly in our Hotel, Restaurant and Catering ("HORECA") division. Notwithstanding this, we expect the adjusted EBITDA margin for the full year to be slightly ahead of that achieved in the first half. We estimate that we will report a net cash position (excluding IFRS 16 liabilities) of some GBP6.0 million as at the end of December 2020. The Group is currently impacted by the various ongoing lockdowns and restrictions and we will continue to adjust our processing capacity and resources to match the volumes required by our customers. As in the previous lockdowns, we expect that our HORECA business will be disrupted significantly more than our Workwear division. We expect to announce the full year results in mid- March 2021."
davebowler: Puma AIM report- Founded in 1817 as silk dyers by the Johnson brothers, the company evolved through the twentieth century into a UK leading chain of dry cleaners and subsequently a textiles rental business providing workwear and linen hire. The work wear and linen businesses came to dominate the company, while the dry-cleaning business declined, which resulted in its disposal to Timpsons in 2017. Johnson Service Group now constitutes two divisions. Workwear is the UK’s number one work wear, protective wear and workplace hygiene services provider processing over one million garments per week. Its other division is Horeca a leading UK provider of linen to the hospitality industry. Our conclusions As stated in the Investment Policy, we look at companies through the prism of three factors; quality, growth and valuation. While we aim to buy high quality, high growth businesses on a low valuation this is not always achievable and most investment decisions involve a trade-off between these three factors. 1. Quality: Workwear with its market leading position earns strong operating margins of between 17-18% a year. Horeca, which has a strong position in a more competitive market earns margins of 10-12% in normal market conditions. Post tax returns on capital employed are good exceeding 10%. ESTABLISHED 1817 SECTOR Support Services PRICE AT END OF QUARTER 139.9p MARKET CAPITALISATION £621m The company has generated free cash in each of the last seven years. 2. Growth: The company can continue to grow both organically and by acquisition. The work wear business has held up remarkably well during the pandemic, with only modest impact from the first 2020 lockdown, with volumes in April down 12% improving to down 6% by August. Horeca was much more negatively impacted as would be expected as hotels and restaurants were largely shut down. We do not expect this business to show a meaningful recovery until Coronavirus is behind us, but we expect a strong recovery when it is, with materially increased demand for holidays and eating out. Beyond the initial recovery we expect the business to grow through a combination of market share gains, growth linked to increasing employment and further market consolidation particularly in the Horeca division. 3. Valuation: In May 2020 the company raised £85m of new equity, which substantially de-leveraged the company’s balance sheet. This combined with the continuing profitability of the Workwear division meant that when we came to start purchasing shares in October 2020, we were confident that the business could make it through the short-term negative impact of the Coronavirus on its Horeca business. Given continued lockdowns it is very hard to predict where results will go over the next year, but we believe that there is considerable upside potential when things return to normal.
wad collector: Sp is now back to where it was a yr ago. Is the worst behind JSG now?
egrid1: JSG is a company that in normal times I would have carried on holding. But I think the market is going to be pretty volatile over the coming weeks. I cannot see JSG reaching new highs until we see how this coronavirus pans out in the UK, and so decided to take a 10% profit, rather than hold for perhaps another 10% rise, or alternatively a fall back. I am watching the charts for cases of coronavirus outside of China, and listening to the general conversations for guidance, more than the companies longer term prospects, during this time of expected volatility. The charts show that whilst the number of active cases worldwide is falling, the rate of fall is dropping off, as China is replaced with cases outside of China. I think that active cases will be rising again before the end of the week, with the UK showing the rapid growth that other countries have experienced. Hysteria will peak again. That will be another buying opportunity. All IMO.
egrid1: I bought into these on Friday at 177p, feeling that peak hysteria had been reached, but concerned about the weekend press, and so recognised there was a risk. Just sold again to bag a 10%+ profit. I feel that whilst JSG say they have seen no impact on business yet from Coronavirus, there will be an impact. Looking at the charts, the number of cases outside of China are growing, and I feel over the next few weeks we will likely see a large increase in cases in the UK - just as happened in China and then Italy. With that there will be fewer hotel visits, and so a knock on effect on laundry requirements. I suspect that the share may fall again from here, as that news starts to flow through. Representing a further buying opportunity.
pwooly: Before retiring, I worked for a competitor in this industry. JSG were and are viewed as a very efficient and strong company. Their Leeds facility will be a significant enhancement to their capacity and efficiency.
wad collector: Don't like to see a share dropping suddenly just before results ; sniffs of a leak of bad numbers. Hope I am wrong ; find out Monday.
wad collector: Missed this on Friday Trading Update Our GBP10.0 million investment plan in our new high volume linen plant in Leeds remains on target for opening in the Spring of this year. This will provide extra processing capacity ahead of the busy summer months. We remain positive about the future prospects for the business and we expect to announce full year results slightly ahead of market expectations. Acquisition On 30 November 2019 we completed the acquisition of the entire issued share capital of Fresh Linen Holdings Limited ("Fresh"), together with its trading subsidiary Fresh Linen Limited, for a cash consideration of GBP12.5 million on a debt free, cash free basis and subject to an adjustment for normalised working capital. The consideration includes the freehold site. As reported in the audited, statutory accounts for the year ended 30 June 2019, Fresh generated revenue of GBP16.7 million and profit before taxation of GBP1.1 million. The results for Fresh are reported on the basis of the accounting policies of the business and will be aligned to the rest of the Group post completion. Reported net assets at 30 June 2019 were GBP4.3 million, including a freehold site with a net book value of GBP1.7 million. The business, which has some 340 employees and operates from its freehold main site in Clacton-on-Sea and through a transport distribution hub in Rainham, London, regularly supplies over 900,000 items of linen a week, predominantly to hotels and gym clubs in the hospitality market in the South East of England. The acquisition meets with our continuing growth strategy to increase the size and scale of our hospitality services in the UK and extend our geographical reach as well as further diversifying the customer profile base within the Johnsons Hotel Linen portfolio. This transaction demonstrates our ability to acquire good quality businesses offering complementary services to our existing locations and clients. We expect to announce the full year results on Monday 2 March 2020.
liberatingsteptoe: Johnson Service Group – a Christmas cracker By Mark Watson-Mitchell 24 December 2019 2 mins. to read Johnson Service Group – a Christmas cracker Master Investor Magazine Master Investor Magazine 57 Never miss an issue of Master Investor Magazine – sign-up now for free! Read the latest Master Investor Magazine This group is a leader in its service sector and its shares deserve a premium rating. Its shares at 196p are undervalued, writes Mark Watson-Mitchell. Whether you were staying at a hotel over the Christmas period, or you were out dining in your favourite restaurant, there was a very high possibility that the Johnson Service Group (LON:JSG) had something to do with making it more enjoyable. We all like to see crisp, white table linen and napkins at the dining table. We all love fluffy luxurious towelling and crisp, white cotton sheets on the beds in our rooms. And that is just where this group excels. Or perhaps you have noticed that certain service personnel are wearing bespoke protective coveralls as they go about their work. Again, Johnson Service Group comes to the fore. It provides textile rental and related services across a range of sectors throughout the UK. Through the Johnsons Apparelmaster brand, it is the leading supplier of work wear and protective wear in the UK. It processes over 1m garments each week. The group also provides premium linen services for the hotel, catering and hospitality sectors, as well as high volume hotel linen services, through various of its brand names including Afonwen, Stalbridge Linen, Bourne Textile Services, PLS, South West Laundry, and London Linen. The entire group employs over 5,000 people with operations covering the whole country – a national coverage with local service. The group includes amongst its thousands of customers Accor Hotels, Caprice Restaurants, Copthorne Hotels, Cote Brasserie, Crowne Plaza, DoubleTree, Holiday Inn, the House of Commons, Hovis Bakery, Malmaison, Morrisons, Premier Inn, Princes Foods, Sodexo, Warburtons and Weetabix – so now you get a flavour of what it does and for whom. In early September the company announced its interims to end June – they showed continued organic growth with revenue up 9.8% at £167.1m and adjusted pre-tax profits of £20.1m, up 10.4%. At that time the company stated that the full-year results are expected to be slightly ahead of market expectations. “There is good momentum in the group and we have started the second half strongly” was the clear statement at the time. Well, we will find out just how well the group has been doing in the final half-year in the next two to three weeks when they declare the end of year trading update. Market estimates suggest the current year will see revenue up from £321m in 2018 to £347m for 2019, with pre-tax profits leaping from £33m to £37m, and earnings of 8.1p per share, more than twice covering a 3.4p dividend. For 2020 another revenue hike to £362m could see profits of £39m, worth 8.7p per share in earnings and a 3.6p dividend. Into 2021 £380m of sales could see £41.5m profits, earnings of 9.25p and a 3.9p dividend per share. With 370m shares in issue the group is valued at around £725m. Large holders include PrimeStone Capital (13.00%), Henderson Global (5.10%), Octopus (5.02%), Merian Global (4.98%), Invesco (4.90%), BlackRock (4.89%), Investec (4.58%), Schroder (3.68%), Legal & General (3.52%0, and Polar Capital (3.33%). This group is a leader in its service sector and its shares deserve a premium rating. Its shares at 196p are undervalued. I now set an end-2020 target price of 250p.
wad collector: New 10 yr high. Another doubling in the share price and it will be at my original buying price.
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