Johnson Service Group – 33.625p

6 December 2012 – disposal

The company has completed the sale of Alex Reid Limited to Christeyns UK Limited for a cash consideration of £2.1m on a debt free basis, which was paid on completion.  The proceeds of the disposal will be used to reduce the company’s debt.  This was identified as a non-core part of the business and represents another step in positioning the business as it intends to be configured for the long term.  We retain our BUY rating.

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