Johns Lyng Group says the business has started the new financial year strongly and is confident its core Australia operations will continue to grow, supported by its “bedrock” Insurance Building and Restoration Services (IB&RS) arm. 

“We see significant runway for growth,” CEO Australia Nick Carnell said at last week’s annual general meeting. 

“Organically we do this by cross selling our end-to-end IB&RS services and developing new client relationships where we can again leverage these cross-sell opportunities.” 

He says the IB&RS business is the “bedrock” of Johns Lyng and it comprises of traditional insurance related repair and restoration work, supported by catastrophe recovery and rebuilding work. 

In the last financial year to June 30, IB&RS revenue grew 52.6% to $1.147 billion, made up of $775.3 million in business as usual income and the remaining $371.3 million from catastrophe work. 

Mr Carnell says client relationships, particularly with insurers have been central to business. In the last financial year, the business announced new contract wins with Youi and Austbrokers and contract extensions with Suncorp, QBE, Allianz, Comminsure, IAG and RACQ. 

“Stemming from this activity and growth, we also opened a number of new offices around the country, including in Davenport, Shepparton, Moruya Heads, Noosa Heads and Auckland – our first New Zealand location,” he said. 

Johns Lyng intends to grow its presence in New Zealand after having acquired an 80% interest in Christchurch-based Mainland Building Services in May. 

Most recently the business has secured an agreement with Tower to provide insurance rectification services across the country. 

“We are delighted to partner with one of New Zealand’s premier insurance brands and this is a further demonstration that our business model can be implemented in markets outside Australia,” Mr Carnell said. 

The business’s Strata Services arm is also performing well and Johns Lyng has the second largest market share after strategically acquiring a number of strata management firms.