Johnson Service chairman lifts stake to 2.5%
Sep 01, 2010
Print this article
Johnson Service Group's chairman John Talbot has splashed out around £445,000 in the dry cleaning business following strong first half results.
He took 2.4m shares in the company at just over 18.5p a time and now has about 6.2m shares, nearly 2.5% of the whole company.
The purchase came on the same day the company reported a 17% increase in half-year profit and said it is well placed for a successful second half.
Adjusted pre-tax profit climbed to £6.2m in the six months ended 30 June 2010 compared to £5.3m a year earlier. Revenue for the period fell to £113m from £117.1m before.
Johnson said its Textile Rental business continues to be very strong while its drycleaning division should now see profit growth in the second half, the group said.
Johnson announced a shake-up at its dry cleaning arm late June with the closure of 20 loss-making branches. The restructuring is expected to cost £6.5m over the next five years.
Talbot said he believed the group is 'well placed for a successful second half,' despite challenging market conditions.
Related articles
-
May 25, 2012
-
May 24, 2012
-
May 23, 2012
-
May 22, 2012
FREE - MoneyWeek's daily investment email
Our free daily email, Money Morning, is an informative and enjoyable analysis of what's going on in the markets. Written by our Editor, John Stepek, and guest contributors.
Sign up FREE to Money Morning here.