Johnson Service Group PLC on Tuesday hailed a rise in its annual profit and revenue and said it had lifted its dividend.

The Cheshire, England-based textile rental, cleaning and care provider said pretax profit rose 85% to £37.6 million in 2023, from £20.3 million the year before.

This was partly driven by a 21% jump in revenue to £465.3 million from £385.7 million 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 2.8 pence per share, up 17% from 2.4p the year prior. It lifted its final dividend by 19% to 1.9p from 1.6p.

Looking ahead, the firm said 2024 has started positively. ‘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,’ it added.

Shares in Johnson Service fell 2.1% to 138.76 pence each in London on Tuesday afternoon.

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