In the UK, Johnson Service Group plc (JSG) recently released their trading update. In the announcement the company stated that they expect a strong performance, with total revenue for the year ended 31 December 2024 increasing by over 10 per cent, in line with their expectations. The HORECA business achieved revenue of £371.0 million (2023: £322.7 million) and the workwear business £142.0 million (2023: £142.6 million).
On an organic basis, Group revenue increased by some 3.8 per cent on 2023 levels. According to the statement: “Within HORECA, trading has remained as expected through the final months of 2024 in both the UK and ROI and we expect to report organic revenue growth for the year of some 5.5 per cent. Workwear volumes remain stable, with customer retention levels continuing to gradually improve, to 93 per cent as at December 2024 from 92 per cent at June 2024, and recent new sales expected to benefit performance later into 2025.”
The companies outlook for economic growth, inflation and interest rates is uncertain for 2025 and, from April, the UK business expects to face higher costs from well-documented increases in taxation. However, the company Board remains confident about delivering another year of progress in 2025 and future growth in the Groups performance over the medium term. Full year results are expected to be announced these days.
