Johns Lyng ups guidance after floods, fires, hail
Builder Johns Lyng Group has increased its full-year sales guidance to $420 million, bolstered by ongoing work stemming from the Townsville floods last summer.
A further significant flow of new job registrations has also followed recent bushfires and hailstorms, and Johns Lyng – which works extensively for major insurance companies – expects to provide another business update capturing that income in February.
The ASX-listed construction firm lifted its full-year earnings forecast 11% to $32 million, saying it had experienced strong activity in its core Insurance building and restoration services businesses in the past six months.
“We’ve taken great momentum into FY20 and had an excellent first half of the year,” Johns Lyng CEO Scott Didier said.
The group’s core business is rebuilding and restoring properties and contents after damage by insured events, including weather and fire.