Johnson Service Group PLC Trading Update and Acquisition (0312B)
January 05 2018 - 2:00AM
UK Regulatory
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
TSTBIMRTMBIMBMP
(END) Dow Jones Newswires
January 05, 2018 02:00 ET (07:00 GMT)
Johnson Service (LSE:JSG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Johnson Service (LSE:JSG)
Historical Stock Chart
From Apr 2023 to Apr 2024