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Jolly nice 2X money next...
Good call - will probably follow suit (sic) Jolly pun this
Sold some - fed up waiting for the economic upturn!
This share is dependant on general economic activity. I don't expect much until a recovery really grabs hold
UAB "Capitalinvest Fund" Threshold(s) that is/are crossed or reached: From 5.69% to 0%
This is a Company with a strategy that has been shown to work. Dry cleaning etc. is bound to suffer in a recession but they seem to have weathered the worst and now moving forward. Longterm holder here - it all looks promising to me
Shore Capital upgraded its stance on Johnson Service Group (JSG) from "hold" to "buy", impressed with the firm's progress with the restructuring of its dry-cleaning business. The broker noted that the company has closed 103 branches, reducing the total to around 350, and believes that this will help future cash generation and debt reduction. Additionally, Shore said that this will give the firm the opportunity to leverage its environmental policy across its remaining stores, giving it a marketing advantage. On the broker's forecasts, the shares trade on a prospective earnings multiple of 6.1 times for the 2013 financial year and offer a dividend yield of 3.5%
Johnson Service: Shore Capital upgrades to buy.
Whats the chances of this reaching 50p??
Still no friends - but creeping up - still a good share imo.
back where it was
still moving upwards
Almost there
Still moving slowly - new target 34p from brokers
I think this is a good long term share and well run company. A few glimpses in the wider economy of recovery - er, possibly. In six months the economy will look very different imo. At last the ECB and Fed Reserve say they will do whatever is needed. Many a slip before ECB support is in place. Greece, Italy and Spain still big problems.
Northland Capital reiterated its "buy" recommendation for Johnson Service Group (JSG) with a 34p target price. The broker believes that the restructuring of the firm's dry cleaning business will improve profitability, leading it to increase its adjusted full year pre-tax profit target by 8.1% to 16 million pounds. Northland also noted that while the planned closure of 103 stores in 2013 will result in a fall in revenues, the broker expects the move will improve margins to 2.2%. On Northland's forecasts, the shares trade on a prospective earnings multiple of 6.9 times for 2012, falling to 6.1 times in 2013. The shares lost 0.5p to 30.5p.
Textile services and facilities management firm Johnson Service Group increased its interim dividend despite profits falling in the first half. Revenues were up 7.7% at £126.3m, while pre-tax profits fell by the same proportion to £6m. Earnings per share sneaked up slightly to 1.9p, while net debt was £7.8m higher at £57.5m, reflecting acquisitions made in the first quarter. Johnson's board proposed an interim dividend of 0.36p, representing an increase of 9.1% over the same period last year. Executive Chairman John Talbot said challenging market conditions had affected each of his firm's divisions. But he added he was confident the firm would perform well in the second half as the benefits of acquisitions and restructuring were realised. The company said its textile rental business had performed admirably with profits up by 5.2% to £8.1m. Integration of newly acquired Cannon Textile Care contracts was progressing ahead of schedule, it added. The restructuring of its dry-cleaning division, which was announced in early July, is proceeding to plan with 103 branches now closed. The tough trading environment for dry-cleaning was reflected in profits at the division, which fell to £7.7m, from £8.4m the year before.
A service company that's very dependant on the economic cycle. I see a few glimpses of better news - hopefully the beginning of an improving stage.
John Talbot, Executive Chairman, commented: "The restructuring is supported by strong trading and cash generation from the Textile Rental and Facilities Management businesses and we believe that the measures we have taken will refocus the Group into a more streamlined and profitable business. We have confidence that our continuing Drycleaning estate will not only be able to withstand the current retail environment but make a telling contribution to the Group's future performance. Textile Rental and Facilities Management continue to perform well and, following the integration of the two recent acquisitions, we are very optimistic about the future profitability of the Group." The Group expects to release the results for the half year to 30 June 2012 on 4 September 2012.
Outlook The Board is pleased with the strong performance from the Textile Rental and Facilities Management businesses in the first half of the year as well as the progress being made in the integration of the recently acquired Cannon Textile Care and Nickleby businesses. We remain confident in the outlook for the Group over the medium term. We believe that the actions we have announced today will produce a robust Textile Services business, which is better able to withstand the changes in consumer demand and capitalise on opportunities available in the better locations.
Johnson Service Group PLC Pre-Close Trading Statement and Drycleaning Strategy Review Overall Group trading results for the first half of the year are expected to be in line with management's expectations with a continuing strong performance from Textile Rental and an encouraging performance from Facilities Management offsetting the impact of a like for like sales reduction in the Drycleaning business.
http://www.investegate.co.uk/Article.aspx?id=201207040700088480G
Johnson Service Group Sell 05-Apr-12 £13,487.83 Paul Ogle 44,880 @ 30.05p Johnson Service Group Sell 05-Apr-12 £13,487.83 Chris Sander 44,880 @ 30.05p Johnson Service Group Sell 05-Apr-12 £13,367.62 Yvonne Monaghan 44,480 @ 30.05p
Qualifying shareholders are given a sheet of discount vouchers worth £50 off their drycleaning. The annual qualifying date is usually in March.
Northland Capital kept its "buy" rating for Johnson Service Group (JSG) with a 34p target price. The dry cleaning business achieved adjusted pre-tax profit growth of 3.4% to 15 million pounds in its 2011 financial year and the broker added that the 1p dividend exceeded forecasts of 0.9p. Furthermore, Northland noted that the dividend is covered more than four times by earnings and therefore expects to see a steady rise in its size. On the broker's forecasts, the shares trade on an undemanding multiple of 6.1 times for 2013, offering a yield of 4.2%. Shares in Johnson gained 0.75p to 29.25p