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

10JunJune 10, 2020

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

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

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