Strong trading to lift Johnson Service Group
Strong second half trading means full-year results are expected to be “slightly ahead” of management expectations.
Johnson Service Group has kicked off the new year with an acquisition and a profit upgrade.
The workwear and linen firm said that strong second half trading means full-year results are expected to be “slightly ahead” of management expectations.
Johnson also announced it latest acquisition, that of Wrexham-based StarCounty, a specialist hotel and catering linen business, for £3.9 million.
The deal was struck on a debt free, cash free basis, and includes a freehold site valued at £900,000.
StarCounty operates in the North West and the Midlands and serves budget hotel chains, country house hotels, restaurants and catering establishments.
Outgoing chief executive Chris Sander said: “We are delighted with another period of strong trading.
“In addition, the acquisition of StarCounty announced today helps us further develop the business in line with our strategy, increasing our presence in the North West and the West Midlands and enhancing the quality of service we can offer our customers in the region.”
In September, Johnson announced that Mr Sander is to retire after 33 years at the group.
The company, which boasts deals with the likes of Waitrose and Jamie’s Italian, has been boosted by a number of successful acquisitions under his tenure.
Shares in Johnson were up 2.5% to 145p in morning trading.