10th Jul 2024 10:13
(Alliance News) - Johnson Service Group PLC on Wednesday said first half performance was in line with expectations with a jump in revenue expected.
The Cheshire, England-based textile rental and services company said revenue in the six months that ended June 30 is anticipated to be GBP244.1 million, up 14% from GBP215.0 million the previous year.
Revenue from the company's Workwear business was stable, marginally increasing to GBP71.2 million from GBP71.1 million. More sprightly, revenue from the Hotel, Restaurant, and Catering sector saw 20% growth to GBP172.9 million from GBP143.9 million.
At June 30, Johnson Service said bank debt stood at GBP75 million, although the company said it will reduce this in the second half in absence of any significant capital deployments.
At the end of the first half in 2023, net debt was GBP40.5 million.
Results for the period will be released on September 3.
Johnson Service shares were up 0.5% to 161.40 pence each in London on Wednesday morning.
By Elijah Dale, Alliance News reporter
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