Jensen-Group FIRST LOOK: Expecting to sustain a high 4Q23 activity and profitability
As a consequence of the JV with Miura, Jensen-Group reintroduces quarterly trading updates. We saw a nice set of numbers supporting our € 40 Target Price. Accumulate rating reiterated.Jensen-Group and its subsidiaries are engaged in heavy-duty laundry activities. Through its Heavy-Duty Laundry Division, Co. supplies textile and garment services to textile rental operations, commercial laundries, on premise laundries for hotels, hotel chains, etc. and institutional laundries and central laundries. Under this division, Co. also operates a separate business unit serving the confectionery textile industry, marketing specialized folding equipment for finished products. Co.'s products include open-pocket washer extractors, split pocket washer extractors, continuous batch washers, batch transfer drying tumblers and flatwork ironers.
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