JSG Johnson Service Group Plc

TIDMJSG

RNS Number : 3198L

Johnson Service Group PLC

12 January 2021

12 January 2021

AIM: JSG

Johnson Service Group PLC

("JSG" or "the Group")

Pre-close Trading Update

JSG, a leading UK textile services provider, is pleased to provide a trading update for the year ended 31 December 2020.

Trading since our previous update on 17 November 2020 has continued to be impacted by the various lockdowns and Tier restrictions, particularly in our Hotel, Restaurant and Catering ("HORECA") division.

Notwithstanding this, we expect the adjusted EBITDA margin for the full year to be slightly ahead of that achieved in the first half. We estimate that we will report a net cash position (excluding IFRS 16 liabilities) of some GBP6.0 million as at the end of December 2020.

The Group is currently impacted by the various ongoing lockdowns and restrictions and we will continue to adjust our processing capacity and resources to match the volumes required by our customers. As in the previous lockdowns, we expect that our HORECA business will be disrupted significantly more than our Workwear division.

We expect to announce the full year results in mid- March 2021.

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 
 Tel: 020 7597 5970                    Tel: 020 3757 4992 
 

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January 12, 2021 02:00 ET (07:00 GMT)

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