Johns Lyng Group (ASX:JLG) see boost in sales lifting profit
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.
Copyright 2020 – Finance News Network
Source: Finance News Network
