Joyce Corporation (JYC) H1 2026 earnings summary

Executive summary

• Revenue for the half-year ended 31 December 2025 rose 11.2% year-over-year to $81.7 million, with NPAT up 36.1% to $10.0 million and NPAT attributable to shareholders up 68.3% to $5.1 million.

• Basic earnings per share increased 68.0% to 17.37 cents, and a fully franked interim dividend of 13.0 cents per share was declared, up 23.8% from the prior period.

• Maintained a net cash position of $35.8 million at December 2025, with no debt.

• Delivered strong operational and financial performance from capital-light, high-margin businesses, focusing on organic growth and disciplined capital management.

Financial highlights

• Revenue increased to $81.7 million from $73.4 million, up 11.2% year-over-year.

• Normalised EBITDA rose 18.8% to $19.7 million, with EBITDA margin improving to 24.2%.

• Normalised EBIT up 21.4% to $14.8 million; normalised NPAT up 20.9% to $10.0 million.

• Gross profit increased to $44.9 million from $40.1 million year-over-year.

• Operating cash flow for the half was $16.0 million, with closing group cash at $35.8 million.

Outlook and guidance

• Confident outlook for 2HY26, with record January orders and a strong order book underpinning revenue coverage.

• Continued focus on network expansion for both KWB and Bedshed, targeting 50+ KWB showrooms and 65+ Bedshed stores long-term.

• Operational leverage expected to build as new showrooms mature and digital marketing initiatives drive growth.

• No significant events after the reporting date are expected to affect operations or financial position.