Johnson Service Group AGM Statement

Recently, UK-based Johnson Service Group (JSG) issued their AGM Statement. Here are some of the headlines:

Workwear volumes are remaining stable leading to like-for-like revenue growth in excess of 3 per cent compared to the first quarter of 2021. In HORECA – the volumes in January and February were 70 per cent and 85 per cent – respectively – of normal.

Volumes continued to increase in the first half of April, averaging 91 per cent of normal. Customers are expecting a strong summer season and the company has plans to ensure that processing capacity can meet this increasing demand. In addition, there is an encouraging pipeline of new business opportunities.

Inflationary pressures remain. However, especially  energy costs have decreased compared to early March. Some 87 per cent of the anticipated gas requirement for this year is fixed at prices significantly below the current day ahead rate. Price increases across the customer base have been secured in order to neutralize the cost inflation that is being experienced in the current environment.

 

Finally, the company declares to remain confident in medium and long-term growth prospects.