Johns Lyng Group (ASX: JLG) has been appointed to lead the recovery of the NSW Government’s ongoing response to the floods.
The building services group will provide free structural assessments of eligible flood-impacted properties in 58 local government areas as part of the $142 million Property Assessment and Demolition Program, funded by the Australian and NSW Governments.
JLG is Australia’s largest integrated disaster recovery and building services provider and recently led recovery and repair efforts for some of the most significant natural disasters to impact Australia over the past 60 years.
Experienced in dealing with the ramifications of severe weather events, JLG’s catastrophe (CAT) job restorations division has worked on recovery projects, including the 2019-20 bushfires and 2021 Victorian storms.
“We, along with all Australians, were shocked by the immense scale of the devastation and destruction caused by these floods,” JLG Australia CEO Nick Carnell said.
“So JLG is both honoured to be awarded this contract and eager to commence with this significant body of work.”
Carnell said that the group’s primary focus is on ensuring communities are supported throughout this process and rebuilt and rejuvenated as quickly as possible.
As the managing contractor, JLG will work closely with the NSW Government over the coming weeks to roll out this program to flood-impacted communities. For any properties that are beyond economic repair and uninhabitable, demolition and removal of waste will be available.
Founded in 1953 in Melbourne, JLG has recently undergone rapid expansion and is now an international business with over 1,800 employees servicing a client base comprising major insurance companies, commercial enterprises, local and state governments, and retail customers.
JLG signed a three-year contract extension with the Suncorp Group (ASX: SUN) earlier in 2022 to provide domestic building insurance repairs across NSW, VIC, QLD, SA, the Australian Capital Territory, and the NT.
Fuelled by workflows stemming from several major weather events across Australia, JLG reported in February that CAT-related 1H22 revenue was up 75 per cent against the previous year.
With its share price more than doubling over the past 12 months, followed by an 11 per cent upgrade on its FY22 revenue and EBITDA forecast after delivering better than expected half-year results in February, JLG was named on the Melbourne Top Companies list at number 39 this year.
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