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Johnson Service Regulatory News (JSG)



Regulatory News for Johnson Service (JSG)


Share Price: 138.60Bid: 137.60Ask: 138.40Change: 0.00 (0.00%)No Movement on Johnson Serv.
Spread: 0.80Spread as %: 0.58%Open: 135.00High: 139.00Low: 135.00Yesterday’s Close: 138.60





Trading Update and Acquisition

Fri, 5th Jan 2018 07:00

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 £3.9 million, on a debt free, cash free basis, including a freehold site valued at £0.9 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 (NOMAD)

Camarco (Financial PR)

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
 
 
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DateSourceHeadlineCategory
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14-Mar-18 11:40RNSHolding(s) in CompanyHolding(s) in Company
09-Mar-18 15:09RNSAnnual Financial ReportResults and Trading Reports
28-Feb-18 13:56RNSDirector/PDMR ShareholdingDirectors' Dealings
28-Feb-18 11:00RNSTotal Voting RightsHolding(s) in Company
27-Feb-18 07:00RNSPreliminary Results for the Year Ended 31 DecemberResults and Trading Reports
01-Feb-18 09:24RNSBlock listing Interim ReviewCompany Announcement - General
01-Feb-18 09:21RNSBlock listing Interim ReviewCompany Announcement - General
31-Jan-18 09:37RNSTotal Voting RightsHolding(s) in Company
05-Jan-18 07:00RNSTrading Update and AcquisitionResults and Trading Reports
29-Dec-17 11:26RNSTotal Voting RightsHolding(s) in Company
05-Dec-17 07:00RNSCEO SuccessionExecutive Changes
30-Nov-17 09:25RNSTotal Voting RightsHolding(s) in Company
31-Oct-17 10:37RNSTotal Voting RightsHolding(s) in Company
09-Oct-17 12:07RNSHolding(s) in CompanyHolding(s) in Company
04-Oct-17 16:19RNSDirector/PDMR ShareholdingDirectors' Dealings
04-Oct-17 09:08RNSHolding(s) in CompanyHolding(s) in Company
29-Sep-17 10:14RNSTotal Voting RightsHolding(s) in Company
21-Sep-17 12:08RNSHolding(s) in CompanyHolding(s) in Company
04-Sep-17 07:00RNSInterim ResultsResults and Trading Reports
04-Sep-17 07:00RNSCEO SuccessionCompany Announcement - General
31-Aug-17 08:56RNSTotal Voting RightsHolding(s) in Company
07-Aug-17 07:00RNSNotice of Interim ResultsAdvance Notice of Results
01-Aug-17 09:11RNSBlock listing Interim ReviewCompany Announcement - General
01-Aug-17 09:10RNSBlock listing Interim ReviewCompany Announcement - General
31-Jul-17 10:56RNSTotal Voting RightsHolding(s) in Company
28-Jul-17 09:22RNSHolding(s) in CompanyHolding(s) in Company
04-Jul-17 07:00RNSPre-close Trading UpdateResults and Trading Reports


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