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Adjusted Operating Profit increased by 1.1% to £18.5 million (2010: £18.3 million)* • Adjusted Profit Before Tax up 3.4% to £15.0 million (2010: £14.5 million)** • Net debt reduced to £49.7 million (2010: £59.5 million) • Net finance costs reduced to £3.5 million (2010: £3.8 million)*** • Adjusted fully diluted earnings per share up 2.4% at 4.2p (2010: 4.1p) • Final dividend proposed up 21.8% to 0.67 pence (2010: 0.55 pence), making 1.0 pence for full year (2010: 0.82 pence)
10th Feb 2012 a buy of £1,067,000.00.....someone in the know
Northland Capital reiterated its "buy" recommendation for Johnson Service Group (JSG), with a 34p target price. The dry cleaner's acquisition of Cannon Textile Care led the broker to increase its revenue forecasts for the 2012 financial year by 11.3 million pounds to 245.6 million pounds, but to lower pre-tax profit targets by 2.0% to 14.8 million pounds. Northland expects the acquisition to be earnings enhancing next year and believes that there is room for cost saving synergies. Shares in Johnson were unchanged at 26.5p.
Collins Stewart initiates buy on Johnson Service Group, target price 31p.
Anyone know the reason for the drop today?
I know this stock has potential. What do you think our expectations should be for the future?
Would advise a buy in this at present, there could be something on the horizon some may say....
Johnson Service Group provides industry and hotels with laundry and clothing and so is exposed to industrial trends, while its dry-cleaning outlets, including the upmarket chain Jeeves of Belgravia, rely on consumer spending of a type easily, if not fragrantly, deferrable. Pre-tax profits came in GBP300,000 higher at GBP6.5m. The shares are on about seven times this year’s earnings, but there seems no obvious upside, says the Times. But the Independent says buy. The group slashed its pension deficit to GBP3.2m from GBP11.2m last year, whi5 le a more modest reduction in its net debt leaves it only GBP51m in the black. Investors also toasted a 22rise in its interim dividend to 0.33p. Bolstering the investment case is the thin valuation, with Johnson trading on a modest forward earnings multiple of 6.8 times, it says.
Quite an upbeat RNS - might not be too long before this turns a corner
John Talbot, Executive Chairman of Johnson Service Group, commented: "These are strong results, especially given the difficult market conditions. We have increased revenue and profit, significantly reduced net debt and are therefore recommending a 22% increase to our interim dividend. Our Textile Rental division has had a strong first half year and has seen a return to growth from its existing customer base. Whilst the cost pressures of the first half are likely to continue, we remain confident of a satisfactory second half performance. The Drycleaning division performed well in a challenging consumer environment. We have made considerable investment in the business, underpinning the Board's confidence in the division for the future. SGP is starting to benefit from the investment that has been made in people and infrastructure over the last two years. I anticipate that new contract wins and the mobilisation of those already signed will result in continuing growth in revenue and profitability in this division. The overall financial position of the Group has continued to improve and we are confident that the Group will perform well in the second half."
Interim Results For The Half Year Ended 30 June 2011 Johnson Service Group PLC, the textile services and facilities management (FM) Group announces its interim results for the half year ended 30 June 2011. OPERATIONAL HIGHLIGHTS · All Divisions traded well in challenging market conditions, with each Division reporting an increase in adjusted operating profit · Adjusted operating profit increased to £8.4 million (H1 2010: £8.0 million)* · Increased adjusted profit before tax of £6.5 million (H1 2010: £6.2 million)* · Adjusted fully diluted earnings per share of 1.8 pence (H1 2010: 1.8 pence)* · Net debt reduced to £51.0 million (31 December 2010: £59.5 million) · Pension deficit reduced to £3.2 million (31 December 2010: £11.2 million) · 22% increase in interim dividend to 0.33p (H1 2010: 0.27p)
http://www.investegate.co.uk/Article.aspx?id=201109060700106684N
Northland Capital Partners recommends buy Johnson Service Group
Northland Capital Partners commented on Johnson Service Group (JSG), the British laundry firm. The broker notes the brief statement from the group that trading has been in-line with management's expectations over the first four months of the year and net debt continues to reduce. In light of this, Northland said it remained comfortable with its forecasts for earnings per share and net debt both remaining marginally ahead of consensus as the group continues to improve the operational performance across the business. The shares were unmoved at 33.375p.
Johnson is finally moving in the right direction. Steady upward progress. Results should be interesting.
The most boring share in the world.
hopefully markets are wakening up to the true value of this. It has great potential
up we go .........
http://www.investegate.co.uk/article.aspx?id=201009271349493598T&fe=1
like some large buys going through...
Volume has slowed a bit today but still a great recovery punt
One of the directors has just bought approx £440,000 worth of shares in this....what does that tell you?? http://www.investegate.co.uk/Article.aspx?id=201009011252139727R
http://www.investegate.co.uk/Article.aspx?id=201009010700129239R