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Johns Lyng secures restoration contract with CHU

Johns Lyng Group’s subsidiary RestorX, a contents and structural remediation specialist, has signed a national restoration services contract with strata specialist CHU.

The one-year deal started this month, with RestorX appointed to the insurer’s restoration services panels in all states and territories except Queensland, the ASX-listed building services provider says in an investor update.

Johns Lyng says the contract is expected to be renewed automatically annually, and will build on the already significant insurance services partnership it has with CHU.

The contract also lends support to Johns Lyng’s goals to expand its business in the strata sector.

CEO Scott Didier says RestorX is in high demand “in the wake of the COVID-19 crisis, for disinfecting and deep cleaning of buildings, facilities and surfaces”.

Earlier this month, Johns Lyng upped its earnings forecast for this financial year by 10%, as demand for its services grew strongly following the spate of catastrophic bushfires last summer and other severe weather events last year.