Johns Lyng Group reported record revenues and earnings for the full fiscal year ended June 30.
The group announced a total revenue of $1.16 billion, a slight increase from the previous financial year.
EBITDA stood at $138.3 million, reflecting a robust growth of 18.2% in their business as usual segment, which contributed $111.2 million.
Scott Didier, Group CEO, remarked, "The strong FY24 result despite widespread cost and supply chain pressures underscores JLG’s ‘defensive growth’ investment thesis."
Didier also acknowledged the strong growth in the United States, noting, "FY24 marked an inflection point for our growth in the United States. We grew the number of Business Partners to 25, launched our core business services lines, and were appointed to AllState’s Emergency Response and Mitigation Panel."
The solid performance highlights the company's resilience amid challenging market conditions.
The company declared a final dividend of 4.7 cents per share, making the total dividend for FY24 9.4 cents per share, fully franked.
The dividend aligns with its dividend policy of a 40%-60% payout ratio.
The net cash position is reported at $20.9 million, with undrawn committed facilities exceeding $80 million, ensuring ample liquidity to fund ongoing growth.
Nick Carnell, Australia CEO, also highlighted significant progress in strategic initiatives, stating, "Strategic plan to systematically develop a fully integrated national service offering including Makesafe, Insurance Building, Restoration and Disaster Management."
The release confirms their commitment to expanding service offerings domestically and in the US market.
Looking ahead to FY25, Johns Lyng Group provided earnings guidance with an expected group revenue of $1.13 billion and group EBITDA of $123.5 million.
The management remains focused on organic growth through geographical expansion, new client wins, and extended service lines.