Source: Reuters
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Johns Lyng (JLG) is appointed by Emergency Recovery Victoria (ERV) to assist those affected by the ongoing flood disaster in the state
  • The company estimates around 34,000 homes will be inundated or isolated in the coming days and weeks, with at least 24 local government authorities impacted so far
  • CEO Nick Carnell says the company is well-positioned to lead and coordinate this vital work and is “prepared and ready” to assist Victorians
  • The company has been a panel member providing services to ERV for several years
  • Shares in John Lyng closed 1.51 per cent higher at $6.07 per share

Disaster recovery and building services provider Johns Lyng (JLG) has been appointed by Emergency Recovery Victoria (ERV) to assist those affected by the ongoing flood disaster in the state.

Currently, the company estimates around 34,000 homes will be inundated or isolated in the coming days and weeks, with at least 24 local government authorities impacted so far.

Johns Lyng CEO Nick Carnell said the company was “well-positioned” to lead and coordinate this vital work.

“Johns Lyng is prepared and ready to assist Victorians at this difficult time and will work tirelessly with ERV to alleviate the challenges that our fellow Victorians are facing,” Mr Carnell said.

“This emergency is unfolding, and it is important that resources are mobilised rapidly and
effectively.

“We have the experience and knowledge to fully mobilise for a catastrophe of this scale, most recently through our ongoing work in the Northern Rivers of NSW and Southeast Queensland and the June 2021 Victorian storms.”

Mr Carnell said it was too early to estimate the scope of work, though the company’s initial priority was to ensure all affected Victorians were safe and secure.

The company has been a panel member providing services to ERV for several years.

As of October 17, more than 11,000 Victorians have been displaced by the floods.

Shares in John Lyng closed 1.51 per cent higher at $6.07 per share.

JLG by the numbers
More From The Market Online
The Market Online Video

ASX Market Close: Index claws back intraweek losses | 26 July, 2024

The ASX200 closed up 0.76% today. Losses from earlier in the week were clawed back with…
A visual representation of e-commerce.

Shekel Brainweigh and Calmer Co lead innovations in the retail space

Several ASX-listed businesses have been gaining ground in the retail sector based on their focus on…
The Market Online Video

ASX Market Update: Mining and Energy stocks lead rising bourse | July 26, 2024

The ASX200 is trading up around 0.87% to just about 7930 points. Materials has been the…