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Johnson Service Group PLC on Wednesday said it expects full-year results in line with expectations, as revenue climbed to £385 million.
The Cheshire-based textile services firm said trading during the second half of 2022 ‘continued to improve’.
It now expects full-year revenue of around £385 million, up 42% from £271.4 million a year earlier. Johnson Service noted that this is in line with current market expectations.
The company noted that its Workwear business is expected to generate £134.5 million of revenue, whilst its HORECA business, in the hotel, restaurant and catering fields, is expected to report £250.5 million.
‘HORECA volumes have increased slightly and were over 93% of normal in the final quarter, helped by the installation of new customers during the second half,’ it explained.
Looking ahead, Johnson Service said it will continue to take appropriate actions to mitigate the issues of cost inflation.
It added that it made moves in the energy market. Now, 65% of its anticipated gas requirement and 55% of its anticipated electricity requirement for 2023 is now fixed.
Full-year results are expected to be announced in March 2023.
Shares in Johnson Service were up 0.2% to 96.30 pence each in London on Wednesday morning.
By Sophie Rose, Alliance News reporter
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