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JSG ahead of forecasts after strong H2

By BFN News | 07:17 AM | Friday 05 January, 2018

Johnson Service Group expects full year results to be slightly ahead of management forecasts after it continued to trade well in the second half. The group said the board had previously communicated its focus on considering further opportunities to develop the business and confirmed that it had completed the acquisition of StarCounty Textile Services on 11 Dec for a total cash consideration of £3.9m, on a debt free, cash free basis, including a freehold site valued at £0.9m. StarCounty, based in Wrexham, has been operating in the North West and the Midlands for over 50 years, serving a range of customers including budget hotel chains, country house hotels, restaurants and catering establishments. The group said: 'The acquisition will support and extend the geographical coverage of our Stalbridge Linen brand across the North West and West Midlands, increasing its processing capacity and also improving the efficiency of the logistics network.' 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.' Results for the full year are expected to be published on 27 Feb. Story provided by

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