City shorts: Johnson Service; Coral; Health deal

JOHNSON Service Group, the Cheshire company providing linen hire to hotels and operating the Johnsons drycleaning chain of shops, says it has had a good first half and expects to top full-year forecasts.

In a brief trading update for the six months to June 30, Johnson said: “We will deliver a strong result for the first half of the year and expect the full year results for 2015 to be slightly ahead of expectations.”

Prior to entering its close period ahead of reporting its Interim results for the six months to 30 June 2015, which are expected to be released on 2 September 2015, Johnson Service Group PLC (the ‘Group’) announces the following update on current trading.

The Preston Brook-based group said its recent £69m acquisition London Linen is trading as expected and integration into its textile business is underway.

Net debt was approximately £73m at June 30, slightly below management’s expectations following the purchase of London Linen.

Johnson is expecting to report its interim figures on September 2.

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LISTED healthcare investor Primary Health Properties is buying a purpose-built health care property being built in Cheshire for £2.5m.

It said one of its subsidiary has agreed to acquire the property, being constructed within the Macclesfield General District Hospital campus redevelopment.

Upon completion the property will be fully let to East Cheshire NHS Trust for a 21-year term.  The construction work is expected to be completed by Q4 2015.

London-based PHP said the deal increases its portfolio to a total of 272 assets with a total annual contracted rent roll of £62.8m.

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HAYDOCK-based Coral Products, the designer and manufacturer of injection moulded plastic products, has won a second significant order to produce specially-designed crates for use in online delivery centres with a total value of approximately £1m.

The second order forms part of a 10- year supply agreement signed in June 2014.

Chairman Joe Grimmond said:  “This supply contract is significant for Coral and whilst further future orders were anticipated, we are nevertheless delighted that the first order announced on June 23 has been followed up so quickly with a second.”