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Johnson Service Group - Division Sale
14/09/2006
Johnson Service Group has announced it is to consider a number of offers for its high street dry cleaning division. Analysts believe that Johnson had initially hoped the division would fetch between £60m and £70m, but recent performance may make a sale price of £55m more realistic. Johnson recorded pre-tax profits of £10.2m for the six months to June 30th 2006, a fall of 8% on previous figures. Total group revenue was £200.6m, which is down by7%. There are 600 dry cleaning outlets in the Johnson division, making it the largest dry cleaning operation in the UK.
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