Johns Lyng Group (ASX: $JLG) reports $23.4m profit for half-year ended 31 December 2023

Johns Lyng Group Limited (ASX: $JLG) has reported a profit of $23.4 million for the half-year ended 31 December 2023. The profit for the Group after providing for income tax and non-controlling interests amounted to $23,362,000, slightly lower than the previous period's $25,211,000. The Group acquired a 100% equity interest in Project Safety Holdings Pty Ltd trading as Smoke Alarms Australia (SAA) and a 70% equity interest in Link Fire Holdings Pty Ltd. The Board has declared an interim dividend of 4.7 cents per share, fully franked, representing 55.9% of NPAT attributable to the owners of Johns Lyng Group for the half-year ended 31 December 2023.

Executive Commentary on Financial Performance and Acquisitions

The profit for the half-year ended 31 December 2023 was $23.4 million, with sales revenue of $610.6 million. The acquisition of SAA and Linkfire represents a significant milestone in the Group's organic growth strategy. The Board's declaration of an interim dividend reflects the Group's commitment to delivering value to its shareholders. The Group's Commercial Construction operations are now in the latter stages of run-off, and existing resources will be focused on large-loss insurance building services. The increase in gross margin was a result of job mix and acquisitions. The Group's strategic rationale for the acquisitions was to facilitate expansion into the 'Essential Home Services' market and to facilitate the Group's expansion into the 'Essential Home Services' market. The Group is optimistic about its future prospects and remains committed to its corporate strategy.

Summary of Johns Lyng Group's Half-year Report 2023/24

Johns Lyng Group Limited (ASX: $JLG) reported a profit of $23.4 million for the half-year ended 31 December 2023, with sales revenue of $610.6 million. The acquisitions of SAA and Linkfire mark significant milestones in the Group's organic growth strategy. The Board's declaration of an interim dividend reflects the Group's commitment to delivering value to its shareholders. The Group's Commercial Construction operations are now in the latter stages of run-off, and existing resources will be focused on large-loss insurance building services. The increase in gross margin was a result of job mix and acquisitions. The Group is optimistic about its future prospects and remains committed to its corporate strategy, aiming for sustained growth and value creation for its stakeholders.