Pre-Close Trading Update

RNS Number : 8217W

Johnson Service Group PLC

03 January 2014

 



                                                                        3 January 2014

Johnson Service Group PLC ("the Group")

Pre-Close Trading Update

Trading

The Group expects to announce a full year profit before tax result in line with expectations.  Net debt is expected to have reduced to below £25.0 million at the end of December 2013.

Management Changes

The Board announces that Chris Sander is to be appointed CEO with immediate effect. Chris joined the Group in 1984 and has significant experience in the Textile Services industry. He has been Managing Director of the Textile Rental business since 2008 and assumed responsibility for the Drycleaning business as part of the combined Textile Services division at the time of the restructuring of Drycleaning in 2012.

John Talbot remains as Executive Chairman but has informed the Board of his intention to stand down at the end of April 2014.  John has been Executive Chairman for over 5 years during which time the Group has been transformed.  Since his first involvement with the Group in 2007 he has led the Board to refocus the business on Textile Services whilst significantly reducing debt and strengthening the balance sheet.

Recruitment of a Non Executive Chair is underway and a further announcement will be made shortly.

The Group will announce its full year results during week commencing 3^rd March 2014.

Enquiries:

Johnson Service Group PLC
John Talbot, Executive Chairman
Yvonne Monaghan, Finance Director
Tel: [phone]
Investec Investment Banking (NOMAD)	Newgate Threadneedle
James Rudd	Graham Herring
David Flin	John Coles
Tel: [phone]	Tel: [phone]

 

END

 

 

TSTLFFFFLEIFIIS