THE Goodbody family - it of the extended stockbroking and legal family - did rather well when it sold the Connacht & Court laundry and workwear group to the British company Johnson Service last year for £33 million.
But under its new owners, Connacht & Court - now rechristened as CCG - seems to be doing pretty well and generated £11 million sterling (€16.4 million) sales and £1 million (€1.48 million) operating profits for Johnson in its first five months of ownership.
In a statement with Johnson Service's results, chief executive Richard Zerny said he expected Connacht & Court to be earnings-enhancing this year and that an investment programme was under way to improve efficiency and expand the group's capacity. "The Irish rental business has considerable scope for expansion and for improved efficiency from modernising and improving our plants and operating procedures.
"We have identified significant scope for expansion in the workwear and industrial markets in the Republic of Ireland, and we plan to open a separate facility for these services in Dublin. In due course, we will also relocate the main Dublin plant," he said.
Lots of money in dirty laundry, it seems.
