2nd Jul 2014 06:37
LONDON (Alliance News) - Workwear and textile rental company Johnson Service Group PLC Wednesday said it expects its 2014 results to be slightly ahead of expectations, after it saw strong trading in the first half of the year, particularly in its textile rental business.
In a short trading update, the company said it expects to report that its net debt was about GBP32.0 million at the end of June, down from GBP34.0 million on a pro-forma basis at the end of December.
The company's financial year is the same as a calendar year.
Investec, which has a Buy rating on the stock, expects the company to report a pretax profit of GBP18.3 million in 2014, according to Morningstar. The company reported a pretax profit of GBP12.2 million in 2013, compared with a GBP15.3 million loss in 2012. Adjusted pretax profit, which excludes finance costs, was GBP13.4 million in 2013.
By Steve McGrath; [email protected]; @SteveMcGrath1
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