With the economy seemingly flat, the Johnson Service Group believes that half-year results will be in line with expectations, but says full-year figures could be disappointing unless there is an economic upturn.

At the April 25 AGM the company said the first quarter was similar to last year as there had been little evidence of an economic revival. Since then, due to flat economic activity, trading in all its businesses has continued to be difficult.

A spokesman said: “With trading conditions in both the UK and Irish rental businesses remaining competitive and no top-line growth being achieved, the board now believes that, unless there is an upturn in economic activity in the second half of the year, financial performance for the full year will be somewhat below current market expectations.” Stuart Graham, the new chief executive who joined at the beginning of June will give business update when interim results are announced in early September.