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JYC

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galumay:
Joyce Corporation has come into my area of interest recently, thinking about taking a position. My initial thoughts are in the decision journal,

H1 19, a solid H1, growth a litttle slower than i expected, but the core business is strong and resiliant.

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Why will this business be around in 10 years? -Because people will still want new kitchens and bathrooms. Lindy effect - been around for 130 years

galumay:
FY2020 Solid result for JYC, divested the auction business and built the balance sheet.

galumay:
H1 2021, fantastic result, driven by JK & JS spending no doubt, but still very impressive numbers. Expect it to flatten off for H2. Great to see they did the right thing & returned JK payments.

galumay:
H1 2022, a reasonable half especially once adjusted for JK in PRP. Revenue up slightly, NPAT also up once Jobkeeper backed out for PCP.

galumay:
An outstanding year for $JYC, somehow they seem to have fared better than many other businesses this year in terms of margins.

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