Johns Lyng Group (ASX:JLG) see boost in sales lifting profit

Company News

by Rachael Jones

Johns Lyng Group (ASX:JLG) report NPAT attributable to the owners is at $7.9 million, that’s a 1.2 per cent increase on the first half of 2019.

Group EBITDA for the first half of the 2020 Financial Year (1H20) up 77.7 per cent on the previous corresponding period (1H19).

This result is primarily driven by a consistently high volume of business-as-usual (BAU) activity in the Group’s Insurance Building and Restoration Services (IB&RS) segment, which recorded a 41.5 per cent increase in sales revenue on 1H19.

The Group also completed several significant acquisitions in the period, which are expected to be earnings accretive for the full FY20.

Shares in Johns Lyng Group (ASX:JLG) are trading 038 per cent higher at $2.62.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.