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Johnson Service Group Plc

1.80 (1.66%)
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
  1.80 1.66% 110.00 477,135 16:35:28
Bid Price Offer Price High Price Low Price Open Price
110.20 111.00 111.00 108.40 109.20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Personal Services 385.70 29.00 6.60 15.46 483.07
Last Trade Time Trade Type Trade Size Trade Price Currency
17:04:04 O 1,288 109.281 GBX

Johnson Service (JSG) Latest News

Johnson Service (JSG) Discussions and Chat

Johnson Service Forums and Chat

Date Time Title Posts
10/4/202315:13JSG: A (dry) clean sweep recovery play?956
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 (JSG) Top Chat Posts

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Posted at 16/3/2023 11:32 by philanderer
Johnson Services to recover lost margins, says Berenberg

Textile rental group Johnson Services (JSG) is a market leader that is set to deliver profit recovery, says Berenberg.

Analyst Calum Battersby reiterated his ‘buy’ recommendation but reduced the target price from 180p to 155p on the stock, which fell 2.9%, or 3.4p, to 115.4p on Wednesday.

Full-year results were in line with upgraded expectations, confirming the group is ‘experiencing a strong recovery in revenues offset by material inflationary pressures, in particular from energy and labour’.

‘While this means we reduce our future forecasts, we consider the group’s outlook highly encouraging,’ said Battersby.

‘Alongside a continued recovery in revenues from the pandemic-impacted prior periods, we expect Johnson Services to recover its lost margins over the coming years, made possible by the group’s significant scale advantages and greater ability to invest in more efficient technologies compared to smaller peers.’

He said the ‘recovery story will play out over coming years’ and combined with a strong balance sheet means there is ‘upside to both future forecasts and the company’s rating from here’.


Posted at 09/3/2023 17:15 by wad collector
Knocking on the door of a 1 year high now. The days of a penny share would appear to be behind us.
Posted at 13/1/2023 13:11 by wad collector
'JSG' or 'the Group')

Pre-Close Update

"Full year outturn is expected to be in line"

JSG, a leading UK textile services provider, today releases an update on trading.

Trading continued to improve during the second half of 2022, and we expect to announce full year revenue of approximately GBP385 million (2021: GBP271.4 million). Revenue in our Workwear business is expected to be GBP134.5 million and in HORECA, GBP250.5 million. On an organic basis, revenue is expected to have increased by almost 40% on 2021 levels and, on the same basis, be 2.6% higher than the pre-pandemic revenue posted for 2019.

HORECA volumes have increased slightly and were over 93% of normal in the final quarter, helped by the installation of new customers during the second half.

Whilst cost inflation remains a challenge, we continue to take appropriate actions to mitigate the impact. We have also traded further in the energy market such that some 65% of our anticipated gas requirement and 55% of our anticipated electricity requirement for 2023 is now fixed.

Year end net debt, excluding IFRS 16 liabilities, is expected to be approximately GBP14 million. The share buyback programme announced in September is ongoing with GBP5.6 million of cash utilised as at 31 December 2022.

The full year outturn is expected to be in line with current market expectations.

Full year results are expected to be announced in March 2023.

Posted at 26/7/2022 09:23 by wad collector
Inline rather than Good I reckon , almost same wording as the May statement. Let us hope the worst is behind JHD now.
If it returns to prepandemic profit levels then looking at about 7p EPS which would make current prospective P/E of 14 , which seems a reasonable price but not a stunning bargain.

Posted at 04/5/2022 19:06 by wad collector
Divis back on the horizon....

("JSG" or "the Group")

AGM Statement

JSG, a leading UK textile services provider, will be holding its Annual General Meeting today and will make the following statement:

"Workwear volumes are remaining stable leading to like-for-like revenue growth in excess of 3% compared to the first quarter of 2021. In HORECA, as previously stated, the volumes in January and February were 70% and 85%, respectively, of normal. Volumes improved further in March to 89% of normal whilst like-for-like revenue in the month, compared to 2019, was up 1.2%. Volumes continued to increase in the first half of April, averaging 91% of normal. Our customers are expecting a strong summer season and we have plans in place to ensure that our processing capacity can meet this increasing demand. In addition, there is an encouraging pipeline of new business opportunities comprising both new openings from existing customers as well as new customers.

We are nearing the completion of the major capital investment projects in Belfast and at our largest linen plant in Bourne in line with those plans.

Inflationary pressures remain but energy costs, in particular, have currently receded from the highs of early March. Some 87% of our anticipated gas requirement for the remainder of this year is fixed at prices significantly below the current day ahead rate. We have secured price increases across our customer base which will offset the cost inflation that we are experiencing in the current environment and we will continue to take appropriate mitigating actions as necessary.

Volumes are continuing to improve to what we expect to be more predictable and normal levels. Reflecting this expectation, it is the Board's current intention to re-commence dividend payments at the time of the Interim results announcement in September 2022.

We remain confident in our medium and long-term growth prospects."

Posted at 18/1/2022 13:32 by wad collector

Volumes during November and December were in-line with pre-Covid normalised levels for Workwear and were approximately 77% of normal within HORECA. However, the challenges of the new COVID-19 variant on the hospitality sector in the final two weeks of December reduced volumes during that period to approximately 60% of normal. Notwithstanding this, we expect to announce 2021 full year results ahead of the expectations referred to in our Trading Update published on 24 November 2021.

Current COVID case rates have continued to impact demand at the start of 2022 in HORECA but we continue to anticipate further recovery of the hospitality sector as we progress through 2022.

Cost pressures, particularly in relation to energy, are ongoing. Although we have taken action and fixed our gas prices for over 80% of our consumption for 2022, the current high price on the remaining 20% will impact our total cost. We are continuing to work hard to mitigate the impact of cost increases on our business for 2022 and beyond. We will give a further update on our progress when we announce our full year results in March 2022.

Posted at 07/9/2021 08:31 by wad collector
Article in IC concludes JSG a Hold.
Posted at 16/7/2021 14:05 by philanderer
Rerating of JSG reflects prime position, says Peel Hunt

The rerating of textile rental and cleaning company Johnson Service Group (JSG) reflects its market-leading position and high margins, says Peel Hunt.

Analyst Christopher Bamberry retained his ‘add’ recommendation and target price of 168p on the stock, which closed down 2.6%, or 4.2p, at 160p on Thursday after a trading update.

He said the shares trade on a multiple of 19.7x 2022 earnings per share versus 19.6x immediately prior to Covid-19, and an average of 15.3x since the disposal of its dry cleaning business.

‘The premium rating reflects Johnson’s market-leading positions, high margins, strong underlying cash generation, good return on capital employed, and the potential for further market share gains, both organic and inorganic,’ said Bamberry.

He said if ‘we place Johnson’s recovered EBITDA on the same 7.7x as [Denmark’s] Berendsen was acquired for in September 2017, this results in a valuation of 200p per share’.


Posted at 03/6/2021 14:13 by johnwise
Johnson Service Group PLC Holding(s) in Company

01/06/2021 8:46am

UK Regulatory (RNS & others)

BlackRock, Inc

Posted at 05/5/2021 11:06 by wad collector
AGM Statement

JSG, a leading UK textile services provider, will be holding its Annual General Meeting today and will make the following statement:

"As expected, trading in the first four months of the year has continued to be impacted by the various lockdown restrictions although we are now beginning to see an increase in demand as restrictions are starting to ease.

Workwear volumes in March were some 96% of normal levels and we have seen a slight continuous improvement during April as more businesses were allowed to open.

Progress continues to be made on the fitout of our new Workwear plant in Exeter and we remain on target for completion in the final quarter of this year.

In HORECA, volumes in the first quarter were some 11% of normal. We have started to see an increase in activity within our customers as they begin to re-open their businesses in accordance with the various easing of restrictions. During the last two weeks of April volumes were approaching some 30% of normalised activity with further increases expected as the restrictions, particularly on hotel stays, are relaxed.

At the end of April, we continued to have 1,450 of our employees on full or partial furlough, although we expect this number to reduce significantly in the coming weeks as employees return to work in response to increasing volumes.

We have commenced the commissioning of our new hotel linen plant in Leeds as we plan for increasing volumes. The site is expected to be operational by 17 May, congruent with the anticipated further relaxation of restrictions in England, and will allow us to transfer the work for our Yorkshire based customers that is currently processed in North Wales. Furthermore, the factory locations that were mothballed over the winter months are also now operational, albeit with reduced headcount in line with current volumes.

We continue to be confident in our ability to be agile and responsive to increasing volumes from our customers as the hospitality market recovers over the coming months. Our strong balance sheet means that we are well positioned to continue to invest in the business to support our long-term growth prospects.

As previously announced, Bill Shannon is to retire from the Board at the conclusion of the AGM. At the same time, Jock Lennox, who was appointed to the Board on 5 January 2021 as an Independent Non-Executive Director and Chair Designate, will become Chair of the JSG Board. The Board would like to thank Bill for his significant input and counsel during his years as both a Non-Executive Director and latterly as Chairman

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