Johns Lyng sees work rise from bushfires, hailstorms
Building and restoration services company Johns Lyng Group says recent bushfire and hailstorm events are driving record job registrations while its “business as usual” operations are also buoyant.
“The year has started very well, and we are seeing strong workflows,” Chairman Peter Nash told the AGM in Melbourne on Thursday.
“At this point we don’t intend to update our forecast, but we remain confident we will meet our target of 19% growth in group revenue for the year.”
CEO Scott Didier told the AGM the group had strong relationships with some of Australia’s largest broker networks and was well positioned to expand in that area this financial year as it also built relationships with loss adjusters.
“Since the royal commission there is now a greater focus on loss adjusting, where insurance companies are now relying on loss adjusters for large loss/complex claim solutions for compliance reasons,” he said.
“The group has appointed a new national account manager to ensure we are at the forefront of developing new and existing relationships to procure new workstreams.”
Johns Lyng is looking to expand its strata work after buying a controlling stake in management firm Bright & Duggan.
“As an insurance builder, a direct relationship with a strata manager is a distinct competitive advantage,” Mr Didier said.
The acquisition expands opportunities in insurance building and restoration, emergency trades services, scheduled repairs, flood and water damage and major events, he told the meeting.