Laundry specialist sees profit rise to £52m
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Laundry specialist Johnson Services Group saw profit increase by just under 15% to £52.8m last year.
The Runcorn based business issued its preliminary results this morning.
Revenues were up 9.2% to £350.6m and adjusted operating profit rose to £52.8m.
The company said it saw organic growth of 6.5% together with benefits of recent acquisitions.
Full year dividend was up by 12.9% to 3.5p reflecting confidence in future prospects
The acquisition of HORECA linen business, Fresh Linen, on 30 November 2019 has further expanded the firm’s nationwide presence.
The is also a new hotel linen site in Leeds on track for the second quarter of this year.
Peter Egan, chief executive said: “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.