Johnson Service Group says laundering success is good news for Britain
Johnson Service Group, the UK's largest rental workwear and laundry firm, today revealed bumper annual results.
A 45 per cent growth in the firm's profits was good news for the UK, according to boss Chris Sander, who labelled the company a "barometer of Britain's financial health".
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The Aim-quoted outfit provides clothing to 1.3m workers each week, while also delivering cleaning services to a wide range of Britain's hotels (for example it washes the linen at both budget chain Premier Inn and the upmarket Wolseley Hotel in London) restaurants and caterers.
The firm's share price rose over two per cent in trading and has increased by 25 per cent in the last year. Investors have more than doubled their returns since Sander took over as chief executive at the start of 2014.
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In January Johnson's retail dry cleaning business was sold to cobblers and keycutters, Timpson, in a deal worth £8.25m. Sander said:
The disposal of dry cleaning in January leaves us focused on driving the growth of our higher margin textile rental activities and we will continue to look at further complementary acquisitions and investment opportunities.