Runcorn-based workwear and hospitality trade textile enterprise, Johnson Service Group, unveiled sturdy outcomes for the yr to December 31, 2022, which it mentioned mirrored the resilience of its enterprise mannequin.
Revenues jumped from £271.4m the earlier yr to £385.7m, whereas a pre-tax revenue of £30.3m is in contrast with £5.1m in 2021.
A full yr dividend of two.4p per share has been advisable, in contrast with no dividend fee the earlier yr.
The group mentioned it has a powerful steadiness sheet and capability for additional funding. It’s finishing up an ongoing £27.5m share buyback programme, with £11.4m deployed up to now.
And the board mentioned it expects the consequence for 2023 to be in step with market expectations.
In the course of the monetary yr, the group mentioned its HORECA (resort, restaurant and catering) volumes improved to achieve 93% of regular within the remaining quarter, in contrast with lockdown intervals, and the board expects volumes to proceed to extend via 2023.
Workwear buyer retention ranges remained sturdy at 94.3%, whereas worth will increase and different actions had been carried out all through 2022 to assist offset price inflation.
Additional mitigating actions are ongoing to offset price pressures.
Regency Laundry was acquired on February 13, 2023, and a brand new leasehold website was secured to broaden HORECA capability within the South East.
Chief government, Peter Egan, mentioned: “The improved efficiency we’re reporting in the present day demonstrates the resilience of JSG’s enterprise mannequin, operational experience and power of {our relationships} with our clients and enterprise suppliers, alongside the exhausting work of our staff.
“Now we have invested £22.4m in our websites to not solely enhance productiveness and processes, but in addition to draw and retain staff with enhanced working environments.
“Publish the yr finish we supplemented our natural development plans with the acquisition of a luxurious resort linen rental enterprise, in step with our acquisition technique, and the signing of a brand new lease to extend our capability within the South East for HORECA.
“We are going to proceed to evaluate funding alternatives which is able to present supplementary high quality providers and earnings enhancing outcomes.”
He added: “We’re assured that the actions we’ve taken have positioned the group in a beneficial place as markets proceed to get well.
“After contemplating the present financial surroundings, together with the latest, and probably additional, will increase in UK rates of interest and the following influence on our price of borrowing, the board expects the consequence for the yr to be in step with market expectations.”
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Salford software program group K3 Enterprise Know-how Group, which gives enterprise‐crucial software program options targeted on style and attire manufacturers, has signed its largest ever software program licence contract for its flagship style product, K3 style.
The three-year software program contract has a gross worth of €1.6m and has been agreed with a worldwide luxurious attire group.
The luxurious retailer was secured as a brand new buyer final January 2022 through K3’s channel companion community.
At the moment, the shopper purchased €30,000 of software program licences in a 12-month contract protecting the piloting of the product. With the success of the pilot, the software program contract has been expanded considerably, with this gross sales course of being typical for K3 style.
The brand new contract has considerably elevated the entire worth of annualised recurring contracts of strategic merchandise.
K3 style is an enterprise resolution, primarily based on Microsoft Dynamics 365 and was particularly developed for the style and attire markets.
It’s endorsed by Microsoft as its globally advisable ‘add-on’ for the style sector.
It’s a complete ‘concept-to-consumer’ resolution that allows clients to handle extra successfully all processes related to product design, manufacturing, provide and returns.
Its modules additionally particularly handle clients’ sustainability points, together with provide chain traceability and allow seamless engagement with end-customers throughout all gross sales channels, digital and bodily. It’s usually purchased as a cloud-based Software program-as-a-Service (SaaS) resolution.
