At the analysts' briefing, JLG has strong relationships with...

At the analysts' briefing, JLG has strong relationships with material suppliers. It's doing the jobs OK.

Quantifying the storms in Victoria and South Australia takes a few months. Slide 12 shows the 'active events' in red, contributing to revenue. It doesn't forecast future CAT events. Work continues to come in. There may be potential upside, the CFO said, but only work-in-process is included.

Reconstruction Experts has been ahead of budget for its first months.

Blueprint for RE is to follow the footprint JLG has achieved in Australia: concentrate first on the four key USA states such as Texas, and then the other 13 states where it's licensed. The authorisations process (from government) in other states is apparently not complex. Sounds good!

Re the growing strata management business, JLG said that acquisition opportunities were 'endless (in seeking opportunities) and (can be) good businesses to acquire, with excellent cross-sell opportunities already with the 88000 apartments it now manages', but the challenge is having staff.

The timing to expand across the USA will firstly be by organic means, finding personnel to become part of the JLG model, and then acquisitions, finding cultural fits while leaving individual (existing) partners involved so both JLG and the acquired business' executives can grow.

The Victorian Government cladding rectification program is about 65 per cent complete.

The lesser margins in BAU were explained by how in FY 21, there were some savings in travel/accommodation and other items that were not repeated when activities opened up after COVID-19 restrictions. For instance the company has more than 400 utes on the road so they're (obviously) now using petrol.

The briefing finished just before 1030 hours.

Excellent result and good going forward.