Building services provider Johns Lyng says a key focus this year is developing its building and restoration services platform for strata insurers.

In the year to June, the ASX-listed firm acquired Bright & Duggan and Capitol Strata and says its strata offering is a “game-changer”.

“The size of the opportunity is simply huge and it’s probably not possible to capture it all,” CEO Scott Didier told shareholders last week.

“I wouldn’t be surprised if our work in the strata space equals in size to that of our core (Insurance Building and Restoration Services) business in the next four to five years.”

The Johns Lyng strata network now covers 71,000 residential units across 2750 schemes.

The company’s Insurance Building and Restoration Services arm brought in $396.7 million for the Melbourne-based business in the year to June 30, up 52% from a year earlier.

“Pleasingly we have had an extremely good start to fiscal 2021, with a high volume of job registrations and a strong pipeline of work which we expect to continue well into the second half,” Mr Didier said.

The company is on track to achieve 15% revenue growth and 23% earnings growth this financial year.

Johns Lyng says its recent appointment to the panel of major strata underwriting agency CHU has been key. It also signed a five-year contract extension with a WA-based insurer, was appointed to the panel of RAC Tasmania for insurance and restoration works and announced contracts with Chubb, and Westpac General Insurance.

Revenue from catastrophe-related work was significant during the year, driven by six difference events last year, including bushfires in Victoria and NSW and ongoing work from events such as the Townsville floods.

“The industry is all about relationships and repeat business and increasing allocations of work from the panels we sit on,” Mr Didier said. “Our people have done a wonderful job in creating a platform that leverages those relationships.”

The company’s Commercial Construction arm has also been appointed to the panel for Cladding Safety Victoria and has begun work on eight large-scale jobs.