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Johnson Service Group PLC - Cheshire-based textile rental - Swings to pretax profit of £5.1 million in 2021 from £32.1 million loss in 2020, as revenue rises 18% to £271.4 million from £229.8 million. Adjusted earnings before interest, tax, depreciation and amortisation is £67.9 million, up 27% from £53.6 million, as adjust Ebitda margin widens to 25.0% from 23.3%.
Declares no dividend for last year, the same as for 2020. Says will reinstate its dividend policy ‘once there is more certainty that trading levels will return to, and remain at, more normal levels’ following the impact of the Covid-19 pandemic. Chief Executive Officer Peter Egan says business volumes are expected to recover toward 2019 levels in the year ahead, though he also warned of cost pressures, which Johnson Service is seeking to mitigate.
Current stock price: 107.80 pence, down 12% on Tuesday
12-month change: down 32%
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