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Wild weather supports Johns Lyng pipeline of work

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Workflows from non-forecast catastrophes boosted earnings at building services provider Johns Lyng as the group renewed and signed contracts with important insurance industry clients.

In the year to June 30, Johns Lyng clocked up new contract wins and renewals with Chubb, RACQ, Honey Insurance and Westpac General Insurance which it expects will provide a steady stream of work into the future.

“This year, much like last, has been driven by solid organic growth – particularly from our core Insurance Building and Restoration Services Division,” CEO Scott Didier said at the company’s annual general meeting last week.

That division experienced a large number of business as usual job registrations and a very positive start to the new financial year, with a pipeline of work that “promises to deliver well,” Mr Didier said.

“We’ve had a fantastic start to fiscal 2022, making a number of strategic acquisitions and extending key contracts, while several ongoing catastrophe projects and recent weather events continue to support a strong pipeline of work.”

He affirmed guidance of 29% annual earnings growth.

Johns Lyng says it is managing multiple claims from the recent earthquake in Victoria and conducted catastrophe recovery works in every major state and territory, while receiving an exclusive contract managed through Bushfire Recovery Victoria for the provision of clean-up and makesafe works on properties damaged by severe storms.

“We are only too aware that the Bureau of Meteorology issued a La Nina Alert some weeks ago and the current weather events we are experiencing right around Australia – and particularly in our densely populated capital cities – of heavy rain and driving winds is to be expected. As a result, inbound calls to our teams are at an unprecedented level,” Mr Didier said.

Last financial year, Johns Lyng Strata Services was appointed to the building and restoration panels of three strata insurance industry clients and it acquired Unitech Building Services, an SA-based insurance building services company, as it aims to build capacity of its large-loss insurance building and makesafe offering in SA.