4th Jan 2019 08:51
LONDON (Alliance News) - Johnson Service Group PLC said Friday tweaked its annual expectations saying that results for 2018 will be in line with market expectations.
In September 2018, the UK listed company reported that results for the full year are anticipated to be slightly ahead of market views on the back of strong sales growth, high levels of customer retention, and productivity benefits from recent investments.
The company, which provides work wear clothes and linen services to the hospitality market, has decided to build a new laundry as part of its strategy to increase capacity and revenue generating opportunities within its high volume linen business.
Johnson Service has signed a contract with a developer for building and leasing a new laundry in the North of England, which is expected to come on stream in early 2020.
"We have continued to trade well during the period, demonstrating the consistency of our business model. Our strategy continues to be driving growth both organically and through acquisition," said Chief Executive Peter Egan.
Shares in the company were trading 2.8% higher at 119.20 pence each on Friday morning.
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