Building services provider Johns Lyng has upped its full-year forecasts for both revenue and earnings by 11%, driven by a record volume of job registrations in its core Insurance Building and Restoration Services segment.

Revenue from catastrophe-related weather events jumped by around 75% from a year earlier in the first half, the Melbourne-based building services provider says, and it now forecasts group revenue will reach $802.4 million this financial year – up from its August forecast of $635.4 million.

Group operating earnings will come in at $78.7 million – up from its earlier forecast of $60.1 million.

“We are pleased to report another period of robust earnings growth,” Group CEO Scott Didier said. “We are expecting this performance to continue into the second half and have therefore issued a forecast upgrade.”

In the first half, earnings jumped 32% while sales increased by 34% on severe weather event workflows, and this is expected to carry through into the current half.

Johns Lyng recently acquired US-based Reconstruction Experts and says this presents a “transformational opportunity” to expand in the large US insurance building and restoration services market. Under a management restructure effective at the start of 2022, Mr Didier assumed the Group CEO role, Lindsay Barber the role of Group COO and Nick Carnell became Australian CEO.

The changes ensure the group “has the capacity and bandwidth required to further its expansion into the US market, while its Australian operations continue to build on the momentum of recent years in delivering sustainable growth,” it said.

Johns Lyng has opened new offices in Launceston, Echuca, Coffs Harbour and Wollongong and signed a three-year contract extension with Suncorp for building insurance repairs in most states. It also expanded its agreement with CHU Underwriting Agencies to include Victoria, WA and Tasmania.

Management continues to assess further acquisitions and strategic growth opportunities in Australia and the US.