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Johnson Service Group profits boosted by acquisitions

By BFN News | 07:59 AM | Monday 04 March, 2019

Johnson Service Group on Monday posted an uptick in profits as revenues were by acquisitions. For the year ended 31 December, profit before tax rose 6.1% to £33.1m and revenue climbed 10.4% to £321.1m. The 'strong' financial performance reflected organic revenue growth of 7.8% and contribution from acquisitions, the company said. The full year dividend was increased by 10.7% to 3.1p, from 2.8p a year earlier. The company said plans were on track to develop a new high volume linen plant in Leeds for spring 2020. The new plant formed part of the company's strategy to increase future capacity and revenue generating opportunities. 'Our strategy of driving the quality of growth organically by investing capital in our operations, coupled with selective acquisitions, has delivered another strong year of substantial growth with both divisions achieving higher levels of new business,' said Peter Egan, Chief Executive Officer of Johnson Service Group. 'We are continuing to focus on growing the business through targeted investment in our current sites, developing new capacity where market opportunities have been identified and expanding geographical coverage through acquisition.' 'The combination of these three strands allow us the platform to continue to provide an excellent service to our customer base. We remain confident in the year ahead.' Story provided by

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