Johnson returns to profit and resumes dividend payments

10 September 2009


The group reported a pre-tax profit of £5.4m in the half year ended 30 June 2009 compared with a loss of £7.5m the year before.

Revenue fell to £120.0m from £130.1m previously.

The group has recommended an interim dividend payment of 0.25p.

Stalbridge Linen Services made a small adjusted operating profit in the first half compared with a loss of £0.8 million in 2008. This is the first time that a profit has been recorded in the seasonally weaker six-month trading period to June since 2006.

In the group's drycleaning division - Johnson Cleaners, Jeeves of Belgravia and Alex Reid - revenue was down by 10.4% to £41.3 million from £46.1 million in 2008.

In a statement, the company said Johnson Cleaners performed ahead of expectations for the first half of 2009, despite the depressed state of the High Street and of the market place in general.

The conversion to GreenEarth Cleaning within its branches continues, with 36 new machine installations in the first half of the year and a further 20 planned for the second half, giving an expected 309 machines in place by the end of the year.

Chairman John Talbot said: "Despite the challenges of the economy both for us directly and indirectly through our customers, the board is confident in achieving a satisfactory result for the year."




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