I tipped this British stock when its shares cost 19p. Today they’re worth

Some firms are one-hit wonders – all the rage for a year or two before fading into insignificance or collapsing altogether.

It’s much harder to keep a company going for decades, ensuring customers are happy, adapting to change and delivering growth year in, year out. For investors, however, they can be the most rewarding stocks to own.

These companies have a solid track record that makes them attractive. Some may be targets for bidders, who would have to pay a premium to take them over, spelling a profit for shareholders.

I have scoured the market and found four Great British stalwarts that stand out from the crowd – including laundry expert Johnson Service Group, whose shares I first tipped at 19p and are worth £1.44 today.

Johnson Service Group 

Midas first tipped laundry specialist Johnson Service Group in 2010. Anyone who followed it would have seen a £10,000 investment grow to almost £76,000 – and there should be more to come.

Based in Cheshire and founded in 1953, Johnson is a top provider of table linen, bedding and towels to hotels, restaurants and special events. It also rents out workwear, with around 1.3 million pieces of clothing laundered and returned to offices, industrial firms and food and drink producers each week.

Since boss Peter Egan has 6,500 employees and more than 900 vans zipping around every day, he has to keep his wits about him. Top customers include Gleneagles Hotel, Wembley Stadium and Royal Ascot – starting this week and expecting around 300,000 visitors, including the Royal Family.

Egan also works with pubs, Premier Inn and restaurant chains across the UK and Ireland.

Under Egan, the business has become more streamlined and last year delivered record results, including a 23 per cent increase in profits to £55 million and a 43 per cent hike in the dividend to 4p.

Further gains are expected as Johnson is moving from the junior Aim market to the main market to attract new investors.

Long-term shareholders have been rewarded but new investors should benefit too. City brokers have put a target of £2 a share on the business. Buy and hold.

Traded on: Aim Ticker: JSG Contact: jsg.com

PHP 

GP surgery group Primary Health Properties (PHP) joined the stock market in 1996 and has increased its dividend every year since.

The healthcare specialist is now embroiled in a fierce bidding war for rival Assura. US private equity giant KKR opened fire in February and upped the ante last week, with a raised 52.1p cash offer, recommended by Assura’s board. But PHP hit back promising a 0.84p special dividend to Assura shareholders, alongside its cash-and-share offer, worth 53p.

Midas investors are sitting pretty whatever the outcome. Assura was one of my tips in December, when its shares were 38p, and the stock is now 50p, so investors who took my advice have enjoyed a 32 per cent return in less than six months.

As for PHP, it was a Midas recommendations back in 2008, when the share price was the equivalent of 70p.

There have been ups and downs since, but today the shares are £1.03 and loyal investors have been rewarded with continued annual dividend growth too. There should be more to come.

Traded on: main market Ticker: PHP Contact: phpgroup.co.uk

James Halstead 

James Halstead was an ambitious industrialist when he founded a weaving business in Manchester 110 years ago.

The company that still bears his name is renowned worldwide for specialised flooring products that are exceptionally hard-wearing, highly practical and competitively priced.

The company has delivered 49 years of rising dividends, with the 50th (to 8.8p) expected this year.

Halstead’s vinyl-based floors are used everywhere from Wetherspoon pubs to schools in the Middle East, and include non-slip, used in care homes, and non-static, used in operating theatres to prevent a build-up of electricity that could create sparks and explosions.

Halstead has not had an easy time in recent years, as it has been hit by subdued spending across the public sector. This could change if Chancellor Rachel Reeves comes good on her promises, made at last week’s spending review, for more affordable homes and improved military accommodation.

Chairman Mark Halstead, great-grandson of the founder, is not resting on his laurels and is driving growth overseas, particularly in the Gulf, South America and the US.

Halstead’s financial year ends on June 30. Brokers expect a modest increase in profits to £57.4 million, rising to nearly £59 million next year, alongside another hike in the dividend to 9p.

The group’s resilience and prospects are not reflected in the share price, which has tumbled more than 30 per cent over the past three years to £1.58.

The fall has been overdue. Supporters suggest the stock is worth at least £3, making the shares a buy with generous…