The Johns Lyng Group (ASX:JLG) forecast revenue upgraded to $470 million

[videojs_hls url=’//du7x25at22z7c.cloudfront.net/276087/index_HLSv3.m3u8′ poster=’http://www.finnewsnetwork.com.au/newssystem/Headlines04_360_200610.jpg’]

The Johns Lyng Group (ASX:JLG) has upgraded its forecast revenue to $470 million, which represents more than 40 per cent growth year-on year from FY19.

Forecast EBITDA has been upgraded to $39 million, representing more than 68 per cent growth year-on-year from FY19, and around 10 per cent increase on earlier guidance.

The upgrade is driven primarily by an unprecedented level of demand for Johns Lyng’s services, including a record number of job registrations following six different catastrophic events during the current financial year-to-date period.

Shares in the Johns Lyng Group (ASX:JLG) are trading flat at $2.63.
 
Copyright 2020 – Finance News Network

Source: Finance News Network