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Johnson Service Group to sell three businesses
01/11/2007
Johnson Service Group has announced that it is looking to sell off three non-core units as part of a restructuring plan, after a disappointing performance that has led to profit warnings. The businesses in question are Stalbridge Linen Services, the hotel supplier, Workplace Engineering and Alex Reid, the specialist dry cleaner.

In a statement on their website, the company said: "The Board of Johnson Service Group announces that since publication of its interim results on 10 September trading in the Group’s three non core businesses has been disappointing. 

As a consequence, profits for the Group for 2007 will be somewhat below the Board’s expectations.

Whilst the Group is early in the budget process for 2008 it has become apparent that the outcome for that year is likely to be below the Board’s previous expectations.

As indicated in the Group’s interim statement, the Board is in the process of a restructuring programme which is being actively pursued.

The Board will update the market as appropriate."

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