3rd Jan 2020 08:45
(Alliance News) - Johnson Service Group PLC on Friday said its 2019 results will be "slightly" ahead of market forecasts amid "strong" strategic and operational performance.
The AIM-listed textile services firm said that its acquisition of Fresh Linen Holdings Ltd and the extra processing capacity of the linen plant scheduled to open in Leeds, England, in spring bode well for the growth of the company.
In November last year, Johnson completed the acquisition of Fresh Linen and its subsidiary Fresh Linen Ltd for GBP12.5 million. The transaction was in line with Johnson Service's continuing growth strategy to increase the size and scale of its hospitality services in the UK and extend its geographical reach.
Chief Executive Peter Egan said: "We are delighted that 2020 will see the opening of the new plant in Leeds providing further capacity and are confident that with these new geographies, our established client base and operational expertise, we will continue to deliver future organic growth."
The full-year results will be announced on March 2, Johnson Service said.
By Ife Taiwo; [email protected]
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