Johnson Service Group cleans up with 2019 results

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Johnson Service Group cleans up with 2019 results
Master Investor Magazine

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Shares in AIM-listed textiles services firm Johnson Service Group (LON:JSG) jumped 8.47% to 198.50p (as of 13:05 GMT) as revenues for 2019 rose by 9.2%. Pre-tax profits were up by 15.1%.

CEO Peter Egan commented: “We have continued to deliver strong organic growth complemented by the impact of our recent acquisitions. The combination of these has yielded another solid financial year with impressive growth in Group revenues, operating profit and earnings per share.

“The Group’s trading performance since the year end has been in line with management expectations.

“We are looking forward to the opening of our new Leeds site which will bring further capacity on stream and are continuing to plan for investment in our other sites, to increase capacity even further.

“We anticipate that the Group will deliver organic growth across both divisions, whilst continuing to focus on customer satisfaction and investment to optimise operational efficiencies. This, alongside our proven track record in identifying earnings enhancing acquisitions, gives us confidence for the future success of the Group“.

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