Johnson Service Group (JSG) Trading update summary

Financial performance

• Group revenue for 2025 expected to rise 4.3% to £535.6 million, with HORECA at £390.0 million and Workwear at £145.6 million.

• Organic revenue growth anticipated at 1.4% year-on-year, consistent with the first half.

• Adjusted operating profit shows strong year-on-year growth, aligning with market expectations and improved margins.

Segment highlights

• HORECA segment demonstrated resilience, with organic revenue growth of 1.0% for the year.

• Workwear volumes stable, customer retention at 94%, and organic revenue growth of 2.4%.

Capital management and outlook

• Net debt at year-end was approximately £112.0 million, reflecting a £54.7 million cash outflow for share buybacks.

• £25.0 million share buyback program completed, totaling £90.3 million returned to shareholders since 2022.

• Board remains confident in further progress for 2026, targeting a margin of at least 14.0%.

• Full year results to be announced in early March 2026.