Johnson Service Group (JSG) Trading Update summary

Trading performance

• Group revenue for H1 2024 expected at £244.1 million, up from £215.0 million in 2023, with organic growth of 5.7%.

• HORECA revenue rose to £172.9 million, with organic growth of 8.5% driven by improved hotel linen volumes.

• Workwear revenue remained stable at £71.2 million, with improved customer retention and new sales expected to benefit H2.

Operational developments

• New HORECA site in Crawley is nearing completion, with eight delivery routes already operating.

• Processing at the Crawley site will commence soon, supporting further growth in HORECA.

Financial position and outlook

• Bank debt (excluding IFRS 16) was approximately £75 million at 30 June 2024, expected to reduce in H2 barring major capital deployment.

• Board expects full year adjusted operating profit to be in line with current market expectations.

• Interim results for H1 2024 will be announced on 3 September 2024.