Johns Lyng Group expects its insurance-linked arm to be an even bigger earnings driver after the business performed strongly for the year to June 30.

The insurance building and restoration services (IBRS) business recorded a 17.2% rise in revenue to $261 million to take group-wide sales income to $335.1 million, up 16.8% from the 2017/18 financial year.

Net profit for the Johns Lyng Group increased 25% to $13.4 million.

IBRS is one of three divisions that make up the business. It has been enjoying significant growth in the past 18 months, fueled by a pipeline of post-catastrophe recovery works and contract wins and extensions with major insurance clients.

Several key acquisitions and resources invested in recent months will further support the growth of the IBRS arm. These include the launch in February of a dedicated division to focus on building and restoration repairs for strata insurers

This month the business bought a controlling stake in Sydney-based strata and facilities management business Bright & Duggan, a move that will open up a “range of cross selling opportunities for our various building services,” CEO Scott Didier said.

The group also acquired US restoration group Steamatic in April and bought a 56.6% equity stake in Dressed for Sale, a pre-sale residential property staging and styling business in February.

The acquisition of Texas-based Steamatic will not affect the Australian company of the same name. Owner and CEO Oliver Threlfall has previously said Steamatic in Australia uses the brand under licence, and that Johns Lyng’s ownership of the US company will have no direct effect on his operations.

“Of equal significance is the progress we made in executing our growth strategy during the year,” Mr Didier said.

“We were pleased to announce a series of new contract wins and extensions with major insurance clients … and we have announced three strategic acquisitions that will add value to the broader group.”

The company’s insurance clients include Chubb, CHU, IAG, Hollard, QBE, Zurich, Suncorp, Vero, Youi and RACWA Insurance.