12th Jan 2021 11:55
Johnson Service Group PLC - textile services - Since mid-November, trading has continued to be affected by lockdown restrictions, particularly the Hotel, Restaurant & Catering division.
Despite this, company expects the adjusted earnings before interest, tax, depreciation and amortisation margin for 2020 as a whole to be ahead of the 21.7% achieved in the first half.
In addition, Johnson Service expects to report a net cash position of around GBP6.0 million as at December 31.
"The group is currently impacted by the various ongoing lockdowns and restrictions and we will continue to adjust our processing capacity and resources to match the volumes required by our customers. As in the previous lockdowns, we expect that our HORECA business will be disrupted significantly more than our Workwear division," the group stated.
Johnson Service will publish its annual results in mid-March.
Current stock price: 133.20 pence
Year-to-date change: down 4.9%
By Dayo Laniyan; [email protected]
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