Joyce Corp’s Kitchens and Wardrobes business beats last year’s results and continue double digit rise.

Joyce Corp’s Kitchens and Wardrobes business beats last year’s results and continue
double digit rise.

Joyce Corporation (ASX:JYC) can announce a 16% growth in sales revenue over the prior
year for KWB Group Pty. Ltd.

Joyce Corporation owns 51% of the KWB Group Pty. Ltd. that trades under the Kitchen
Connection and Wallspan Kitchen and Wardrobes brands.

In line with the overall performance of the group that includes Bedshed and Lloyds
Auctions, the KWB Group increased sales revenue 16% over the previous year.

Mr. Anthony Mankarios, Executive Director of Joyce Corporation said “it was a particularly
outstanding result given the tough retail trading environment over the past 12 months. The
recent acquisition of a manufacturing and distribution site in Lytton in Brisbane is expected
to improve cost savings through improved operational efficiencies pointing to continued top
and bottom line growth in next year’s result.”

KWB impressively grew EBITDA by 27% to $6.4 Million exceeding expectations while
continuing to gain market share in the $1.4 billion Australian kitchen renovation market.

John Bourke KWB Group’s Managing Director, confirmed their strategic plan of profitable
network growth across south East Queensland and New South Wales will continue.

“With 15 Showrooms in our network, strong growth in our Kitchen and wardrobe categories
and the commencement of local manufacturing supply in Queensland, we have been able to
build a strong and profitable base on which to build for the future”, said Mr. Bourke.

Joyce Corporation has published its annual results for the 2017 Financial Year recording
robust growth in group consolidated revenue up 43% on 2016.

Profit from continued operations for the group was up to 21.1 cents per share up from 12.5
cents in 2016 and earnings per share to members after tax (on a fully diluted basis) was 10
cents per share up from 8.3 cents.

Joyce Corporation Limited aims to deliver above average returns and increasing dividends to
its shareholders through delivering quality partnering solutions in fast growing businesses. Its
partners include franchise business owners and joint venture companies with highly talented
and passionate individuals with vested interest in its continual success.

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