Preston Brook, Chesire-based workwear and linen rental company Johnson Service Group (JSG) said at its AGM on Thursday it expects the firm’s full year results for 2018 to be slightly ahead of current market expectations.
JSG also said its non-executive chairman Paul Moody will resign and leave the group on August 3, 2018.
Moody told the AGM: “Following substantial growth in 2017, year to date trading has been strong reflecting both an encouraging underlying performance together with the benefit of acquisitions over the last twelve months.
“We expect the full year results for 2018 to be slightly ahead of current market expectations.”
Moody added: “It has been a privilege to have been part of the Johnsons family for over eight years, the last four as chairman.
“Under Chris Sander’s leadership, the business has performed spectacularly well.
“The strategy that he and the board have defined is clear and will continue to drive strong operational and financial performance; combined with the seamless transition from Chris to Peter Egan as CEO, I am confident that a positive future for the business is assured.
“Now is the right time for me to step away as I consider new opportunities.”
JSG said its current senior independent director Bill Shannon will be appointed non-executive chairman with effect from August 3, 2018.
JSG CEO Chris Sander said: “As a member of the board, and for the last four years as chairman, Paul has made a valued contribution to the development of our strategy.
“During this time we have experienced significant growth and become a market leader in textile services in the UK.
“The board thanks him for his support to the executive in pursuing their aims and ambition for the company and wishes him well in whatever he chooses to do.”