• Steady operating performance despite difficult trading conditions
• Robust NPAT* to Joyce shareholders of $4.0M
• Strong financial position with net cash of $31.8M

Joyce Corporation Ltd (ASX: JYC) reported its 1HY25 financial results, highlighting a steady operating performance despite difficult trading conditions. The company's revenue was $73.4M, with a Group NPAT of $8.3M and NPAT attributable to JYC shareholders of $4.0M. The company maintained a strong financial position, with net cash of $31.8M and no debt. The KWB Group, which operates the Kitchen Connection and Wallspan brands, delivered revenue of $59.2M and EBIT of $12.7M, with robust EBITDA and EBIT margins of 26.3% and 21.4% respectively. The group continued to expand its showroom network, opening three new showrooms in 1HY25 and securing further expansion for 2HY25. Bedshed, the company's bedding and bedroom furnishings business, generated combined operations revenue of $13.7M, with EBIT of $2.2M. The company-owned store network is anticipated to deliver improved sales revenue and financial performance in 2HY25.The company remains focused on the pursuit of organic growth from large addressable markets within Australia, with a disciplined approach to cost and capital management. The board declared an interim dividend of 10.5 cents per share, fully franked, consistent with the prior comparative period.

The company's primary focus remains on the pursuit of organic growth from large addressable markets within Australia, with a disciplined approach to cost and capital management. The company is well-positioned to continue returning healthy dividends to shareholders and maintain its growth trajectory.