Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Workwear and Textile company Johnson Service said it would not pay a dividend this year after swinging to a first-half loss as the pandemic forced the company to shutter its workwear, hotel restaurant and catering sites for three months.
For the six months ended 30 June, the company reported a pre-tax loss of £18.6m, compared with a profit of £15.2m on-year as revenue fell to £114.8m from £167.1m.
The company said it expected that there would be no dividend for 2020.
Looking ahead, the company said it currently anticipated that the adjusted earnings before interest, taxes depreciation and amoritzation (EBITDA) margin for the full year will be similar to that in the first half.'
'HORECA revenue has benefitted from summer staycations, which have been slightly ahead of our initial expectations, but it is too early to forecast the anticipated volumes for the remainder of this year,' the company said.
'Performance in the final quarter of the year will remain closely correlated with the wider level of economic activity.'
At 8:06am: (LON:JSG) Johnson Service Group PLC share price was +2.4p at 106.2p