Johnson Service Group PLC, the textile related services and facilities management group announces its interim results for the half year ended 30th June 2007.
Results Summary
- Main business streams’ adjusted operating profit* up 10% to £15.8 million
- Exceptional losses of £17.9 million include £15.9 million write-off of Group ERP system
- Adjusted profit before tax* of £7.0 million (2006: £11.6 million)
- Interim dividend of 3.0p (2006: 4.6p).
Financial Summary (Continuing Operations)
| |
2007 |
2006 |
| |
|
|
| Revenue |
£197.7m |
£196.9m |
| |
|
|
| Revenue (excluding costs recharged to customers) |
£175.3m |
£171.2m |
| |
|
|
| Reported Operating (Loss)/Profit |
(£8.6m) |
£20.4m |
| |
|
|
| Adjusted Operating Profit* |
£12.2m |
£16.3m |
| |
|
|
| Reported (Loss)/Profit Before Tax |
(£13.8m) |
£15.7m |
| |
|
|
| Adjusted Profit Before Tax* |
£7.0m |
£11.6m |
| |
|
|
| Interim dividend |
3.0p |
4.6p |
| |
|
|
* (before intangibles amortisation (excluding software) and exceptional items)
“Since Charles Skinner’s appointment as Chief Executive in April 2007, he has started the process of restructuring the Group and executing his strategy for establishing Johnson Service Group as a leading provider of business services. Our core businesses have continued to trade robustly and represent an excellent foundation on which to build. While the next few months will involve further reorganisation, I am confident that the Group will emerge well-placed to show profitable growth in 2008 and beyond.”
Simon Sherrard, Chairman
For further information, please contact:
Johnson Service Group PLC
Charles Skinner, Chief Executive
Yvonne Monaghan, Finance Director
Tel: 020 7290 0383 on 10th September only;
07966 234 075 thereafter
Hudson Sandler
Michael Sandler
Sandrine Gallien
Tel: 020 7796 4133