EXPANSION is on the cards for a Preston Brook firm which is celebrating a huge rise in profits.
Johnson Service Group PLC has hailed a rise in its annual profit and revenue and said it had lifted its dividend.
The textile rental, cleaning and care provider said pre-tax profit rose 85 per cent to £37.6million in 2023, from £20.3million the year before.
This was partly driven by a 21 per cent jump in revenue to £465.3million from £385.7million in 2022.
The rise in revenue was reflected by increased volume in hospitality and price increases, it explained.
Johnson Service proposed a full year dividend of 2.8p per share, up 17 per cent from 2.4p the year prior.
It lifted its final dividend by 19 per cent to 1.9p from 1.6p, and looking ahead, the firm said 2024 has started positively.
A spokesman said: “We are continuing to focus on expanding the group through targeted investment in our existing sites, together with identifying earnings enhancing acquisition opportunities.
“We have a strong balance sheet to support these plans.”
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