Linen giant Johnson ups revenue 9% to £350m

Shares of Runcorn-based workwear and linen rental company Johnson Service Group (JSG) rose 8% on Monday after it said its revenue for the year to December 31, 2019, increased 9.2% to £350.6 million and statutory profit before tax rose 15.1% to £38.1 million.

Full year dividend rises 12.9% to 3.5p “reflecting confidence in future prospects.”

Johnson Service Group CEO Peter Egan said: “We have continued to deliver strong organic growth complemented by the impact of our recent acquisitions.

“The combination of these has yielded another solid financial year with impressive growth in group revenues, operating profit and earnings per share.

“The group’s trading performance since the year end has been in line with management expectations. 

“We are looking forward to the opening of our new Leeds site which will bring further capacity on stream and are continuing to plan for investment in our other sites, to increase capacity even further.  

“We anticipate that the group will deliver organic growth across both divisions, whilst continuing to focus on customer satisfaction and investment to optimise operational efficiencies.

“This, alongside our proven track record in identifying earnings enhancing acquisitions, gives us confidence for the future success of the group.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.