buy21 Apr 2009 18:21
The fact that profits of any kind have been garnered and the fact that they have bowed to the inevitable and not paid a dividend will have reassured some investors.
I believe that when the economy recovers, JSG should be in a relatively strong position in the workwear and dry cleaning market. By then they will have swallowed up a lot of small rivals in the former and disposed of the weak shops in the latter.
Given a continuation of this frugal policy, the share price should begin to climb later this year to around 65p, going on to about 115p in 12 months time.