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Johnson Service Group PLC on Thursday reported first-quarter growth and reaffirmed confidence in its long-term outlook, as the company progresses toward a potential move to London’s Main Market. Revenue for the three months to March 31 rose 6.1% year-on-year to £121.4 million from £114.4 million, with organic revenue growth of 2.2%. The group said volumes in both its Horeca and Workwear divisions traded in line with expectations, aided by improved customer retention. In its annual general meeting statement, the AIM-listed firm said it expects to complete a review regarding a potential transfer to the London Stock Exchange’s Main Market by June 11, following engagement with key shareholders. The company also said it remains on track to achieve an adjusted operating profit margin of at least 14% in 2026, noting a ‘strong, well-invested business and a strong balance sheet’ to support further growth. It confirmed confidence in managing macroeconomic challenges, with gearing expected to remain below 1x earnings before interest, taxes, depreciation, and amortisation throughout 2025. Bank debt rose to £84.5 million at the end of March, up from £68.6 million at year-end, and is expected to peak mid-year at around £100.0 million before falling back by December, assuming the completion of a £30.0 million share buyback. Shares in Johnson Service were up 1.1% at 141.48 pence in London on Thursday afternoon. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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