JSG reports strong financial performance for 2018

4 March 2019

UK

Johnson Service Group, the UK’s leading textile services provider, has reported “another consistent and strong financial performance” for the year ended 31 December 2018. Adjusted profit before taxation increased by 7.1% to £42.5m from £39.7m in 2017. The group confirmed that its planned new high volume linen plant in Leeds is on track for Spring 2020.

Announcing its preliminary results, JSG said that total continuing revenue for the year increased by 10.4% to £321.1 million from £290.9m in 2017, reflecting the its continuing strong organic growth performance of 7.8% and contributions from the acquisition of South West Laundry in August 2018 as well as the full year benefit of acquisitions completed in 2017.

The group now comprises of textile services businesses that trade through a number of very well recognised brands, servicing the UK’s Workwear and HORECA sectors.

Currently the Apparelmaster brand operates in the workwear market, Stalbridge, South West and London Linen provide premium linen services to the restaurant, hospitality and corporate events market and Bourne, Afonwen and PLS provide high volume hotel linen services.

JSG is developing a new group-wide corporate brand, which will link together the various local brands and extend national brand recognition. The rollout will commence shortly and will take up to three years to fully implement.

Peter Egan (pictured), who assumed the role of Chief Executive Officer from Chris Sander on 1 January 2019, said: “Our strategy of driving the quality of growth organically by investing capital in our operations, coupled with selective acquisitions, has delivered another strong year of substantial growth with both divisions achieving higher levels of new business. We are continuing to focus on growing the business through targeted investment in our current sites, developing new capacity where market opportunities have been identified and expanding geographical coverage through acquisition. The combination of these three strands allows us the platform to continue to provide an excellent service to our customer base. We remain confident in the year ahead.”

 



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