TIDMJSG

RNS Number : 2794Y

Johnson Service Group PLC

13 January 2022

13 January 2022

AIM: JSG

Johnson Service Group PLC

('JSG' or 'the Group')

Pre-Close Update

"Result for the year ended 31 December 2021 expected to be ahead"

JSG, a leading UK textile services provider, today releases an update on trading.

Volumes during November and December were in-line with pre-Covid normalised levels for Workwear and were approximately 77% of normal within HORECA. However, the challenges of the new COVID-19 variant on the hospitality sector in the final two weeks of December reduced volumes during that period to approximately 60% of normal. Notwithstanding this, we expect to announce 2021 full year results ahead of the expectations referred to in our Trading Update published on 24 November 2021.

Current COVID case rates have continued to impact demand at the start of 2022 in HORECA but we continue to anticipate further recovery of the hospitality sector as we progress through 2022.

Cost pressures, particularly in relation to energy, are ongoing. Although we have taken action and fixed our gas prices for over 80% of our consumption for 2022, the current high price on the remaining 20% will impact our total cost. We are continuing to work hard to mitigate the impact of cost increases on our business for 2022 and beyond. We will give a further update on our progress when we announce our full year results in March 2022.

ENQUIRIES

 
 
   Johnson Service Group PLC 
 Peter Egan, CEO 
 Yvonne Monaghan, CFO 
 Tel: 020 3757 4981/4992 (on the day) 
 Tel: 01928 704 600 (thereafter) 
 
 Investec Investment Banking (NOMAD)    Camarco (Financial PR) 
 David Flin                             Ginny Pulbrook 
 Carlton Nelson                         Rosie Driscoll 
 Virginia Bull                          Toby Strong 
 Tel: 020 7597 5970                     Tel: 020 3757 4981/4992

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END

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January 13, 2022 02:00 ET (07:00 GMT)

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