12 January 2021
AIM: JSG
Johnson Service Group PLC
("JSG" or "the Group")
Pre-close Trading Update
JSG, a leading UK textile services provider, is pleased to provide a trading update for the year ended 31 December 2020.
Trading since our previous update on 17 November 2020 has continued to be impacted by the various lockdowns and Tier restrictions, particularly in our Hotel, Restaurant and Catering ("HORECA") division.
Notwithstanding this, we expect the adjusted EBITDA margin for the full year to be slightly ahead of that achieved in the first half. We estimate that we will report a net cash position (excluding IFRS 16 liabilities) of some £6.0 million as at the end of December 2020.
The Group is currently impacted by the various ongoing lockdowns and restrictions and we will continue to adjust our processing capacity and resources to match the volumes required by our customers. As in the previous lockdowns, we expect that our HORECA business will be disrupted significantly more than our Workwear division.
We expect to announce the full year results in mid- March 2021.
ENQUIRIES
| Johnson Service Group PLC |
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| Peter Egan, CEO |
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| Yvonne Monaghan, CFO |
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| Tel: 01928 704 600 |
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| Investec Investment Banking (NOMAD) | Camarco (Financial PR) |
| David Flin | Ginny Pulbrook |
| Carlton Nelson | Oliver Head |
| Tel: 020 7597 5970 | Tel: 020 3757 4992 |
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