Pre-close Trading Update

RNS Number : 3198L

Johnson Service Group PLC

12 January 2021

 

12 January 2021

AIM: JSG

Johnson Service Group PLC

("JSG" or "the Group")

Pre-close Trading Update

JSG, a leading UK textile services provider, is pleased to provide a trading update for the year ended 31 December 2020.

Trading since our previous update on 17 November 2020 has continued to be impacted by the various lockdowns and Tier restrictions, particularly in our Hotel, Restaurant and Catering ("HORECA") division.

Notwithstanding this, we expect the adjusted EBITDA margin for the full year to be slightly ahead of that achieved in the first half.  We estimate that we will report a net cash position (excluding IFRS 16 liabilities) of some £6.0 million as at the end of December 2020.

The Group is currently impacted by the various ongoing lockdowns and restrictions and we will continue to adjust our processing capacity and resources to match the volumes required by our customers.  As in the previous lockdowns, we expect that our HORECA business will be disrupted significantly more than our Workwear division.

We expect to announce the full year results in mid- March 2021.

ENQUIRIES

Johnson Service Group PLC
Peter Egan, CEO
Yvonne Monaghan, CFO
Tel: [phone]
Investec Investment Banking (NOMAD)	Camarco (Financial PR)
David Flin	Ginny Pulbrook
Carlton Nelson	Oliver Head
Tel: [phone]	Tel: [phone]

 

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