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Johns Lyng Group Limited (ASX:JLG)

ALERT: Price-sensitive ASX Announcement for JLG
Current share price for JLG : $3.990 -3.21 (-44.58%)+
Announcement
Release
27 Feb 2024 9:06AM
Price at Release
$7.200
Full Release
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Summary
Johns Lyng Group Limited (JLG) has reported significant growth in their first half of the financial year (1H24), with a 28.1% increase in IB&RS BaU EBITDA. Overall, JLG's Group Sales Revenue for 1H24 was $610.6 million, and their EBITDA was $69.7 million. Due to the strong performance, JLG has upgraded their full-year forecast Group Sales Revenue to $1.207 billion and their EBITDA to $136.4 million. The growth was driven by a record volume of Business as Usual (BaU) work and large-scale Catastrophe (CAT) events. JLG also expanded its international presence, establishing new partnerships in the U.S. with Allstate Insurance and in New Zealand with Tower Insurance. Additionally, JLG saw progress in expanding its Essential Home Services, including the acquisition of Smoke Alarms Australia and Linkfire.
Key Points
  • 28.1% increase in first half IB&RS BaU EBITDA
  • 3.5% forecast revenue upgrade and 5.0% EBITDA upgrade for FY24
  • Upgraded full-year forecast Group Sales Revenue to $1.207 billion and EBITDA to $136.4 million
  • Group Sales Revenue for 1H24 was $610.6 million, and EBITDA was $69.7 million
  • Record volume of BaU work supported by large CAT events
  • International expansion with new partnerships in the U.S. and New Zealand
  • Established Essential Home Services as a fifth strategic growth pillar
  • Interim dividend of 4.7 cents per share, approximately 56% of NPAT attributable to shareholders
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.