Johnson Service Group PLC AGM Statement (5411X)
05 Mayo 2021 - 1:00AM
UK Regulatory
TIDMJSG
RNS Number : 5411X
Johnson Service Group PLC
05 May 2021
5 May 2021
AIM: JSG
Johnson Service Group PLC
("JSG" or "the Group")
AGM Statement
JSG, a leading UK textile services provider, will be holding its
Annual General Meeting today and will make the following
statement:
"As expected, trading in the first four months of the year has
continued to be impacted by the various lockdown restrictions
although we are now beginning to see an increase in demand as
restrictions are starting to ease.
Workwear volumes in March were some 96% of normal levels and we
have seen a slight continuous improvement during April as more
businesses were allowed to open.
Progress continues to be made on the fitout of our new Workwear
plant in Exeter and we remain on target for completion in the final
quarter of this year.
In HORECA, volumes in the first quarter were some 11% of normal.
We have started to see an increase in activity within our customers
as they begin to re-open their businesses in accordance with the
various easing of restrictions. During the last two weeks of April
volumes were approaching some 30% of normalised activity with
further increases expected as the restrictions, particularly on
hotel stays, are relaxed.
At the end of April, we continued to have 1,450 of our employees
on full or partial furlough, although we expect this number to
reduce significantly in the coming weeks as employees return to
work in response to increasing volumes.
We have commenced the commissioning of our new hotel linen plant
in Leeds as we plan for increasing volumes. The site is expected to
be operational by 17 May, congruent with the anticipated further
relaxation of restrictions in England, and will allow us to
transfer the work for our Yorkshire based customers that is
currently processed in North Wales. Furthermore, the factory
locations that were mothballed over the winter months are also now
operational, albeit with reduced headcount in line with current
volumes.
We continue to be confident in our ability to be agile and
responsive to increasing volumes from our customers as the
hospitality market recovers over the coming months. Our strong
balance sheet means that we are well positioned to continue to
invest in the business to support our long-term growth
prospects.
As previously announced, Bill Shannon is to retire from the
Board at the conclusion of the AGM. At the same time, Jock Lennox,
who was appointed to the Board on 5 January 2021 as an Independent
Non-Executive Director and Chair Designate, will become Chair of
the JSG Board. The Board would like to thank Bill for his
significant input and counsel during his years as both a
Non-Executive Director and latterly as Chairman."
Enquiries:
Johnson Service Group PLC
Peter Egan, CEO
Yvonne Monaghan, CFO
Tel: 01928 704 600
Investec Investment Banking (NOMAD) Camarco (Financial PR)
David Flin Ginny Pulbrook
Carlton Nelson Oliver Head
Virginia Bull
Tel: 020 7597 5970 Tel: 020 3757 4992
About Johnson Service Group PLC
www.jsg.com
Headquartered in Preston Brook, Cheshire, JSG provides textile
services across the UK. The Group is the leading supplier of
workwear and protective wear in the UK and also provides premium
linen services for the hotel, catering and hospitality markets.
With its core values of quality, reliability and service, the Group
aims to provide customers with an outstanding level of customer
care.
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END
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