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Johnson Service Group PLC on Wednesday said first half performance was in line with expectations with a jump in revenue expected. The Cheshire, England-based textile rental and services company said revenue in the six months that ended June 30 is anticipated to be £244.1 million, up 14% from £215.0 million the previous year. Revenue from the company’s Workwear business was stable, marginally increasing to £71.2 million from £71.1 million. More sprightly, revenue from the Hotel, Restaurant, and Catering sector saw 20% growth to £172.9 million from £143.9 million. At June 30, Johnson Service said bank debt stood at £75 million, although the company said it will reduce this in the second half in absence of any significant capital deployments. At the end of the first half in 2023, net debt was £40.5 million. Results for the period will be released on September 3. Johnson Service shares were up 0.5% to 161.40 pence each in London on Wednesday morning. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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