Last checked at 3 May 2018 07:00
3 May 2018
AIM: JSG
Johnson Service Group PLC
("JSG" or "the Group")
AGM Statement and Directorate Change
AGM Statement
JSG, a leading UK textile services provider, will be holding its Annual General Meeting today and Chairman, Paul Moody, will make the following statement:
"Following substantial growth in 2017, year to date trading has been strong reflecting both an encouraging underlying performance together with the benefit of acquisitions over the last twelve months. We expect the full year results for 2018 to be slightly ahead of current market expectations."
Directorate Change
JSG also announces that Paul Moody has given notice that he is to resign from his position as Non-Executive Chairman and will leave the Group on 3 August 2018.
The current Senior Independent Director, Bill Shannon, will be appointed as Non-Executive Chairman with effect from 3 August 2018. In the meantime, the Board will commence a search for a new Non-Executive Director who has the relevant experience to assist in the further development of the Group's strategy.
Paul Moody commented:
"It has been a privilege to have been part of the Johnsons family for over eight years, the last four as Chairman. Under Chris Sander's leadership, the business has performed spectacularly well. The strategy that he and the Board have defined is clear and will continue to drive strong operational and financial performance; combined with the seamless transition from Chris to Peter Egan as CEO, I am confident that a positive future for the business is assured. Now is the right time for me to step away as I consider new opportunities."
Chris Sander, Chief Executive Officer, commented:
"As a member of the Board, and for the last four years as Chairman, Paul has made a valued contribution to the development of our strategy. During this time we have experienced significant growth and become a market leader in textile services in the UK. The Board thanks him for his support to the Executive in pursuing their aims and ambition for the Company and wishes him well in whatever he chooses to do."
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 |
Carlton Nelson | Ben Woodford |
Darren Vickers | Tom Huddart |
Tel: 020 7597 4000 | Tel: 020 3757 4992 |
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.