Australian home improvement retailer Joyce Group has proven its staying power, delivering steady growth and a rock-solid balance sheet for the fiscal year ended June 30. 

Revenue ticked up 2 per cent to $148.2 million, supported by strong performances across its key brands. Normalised EBIT came in at $23.9 million, with a healthy margin of 16.1 per cent, a slight dip from last year as the company doubled down on strategic showroom investments.

Joyce Group closed the year in excellent financial shape, boasting a net cash position of $39.2 million, up from $39.1 million in FY24.

“Our businesses continue to demonstrate their resilience and value to shareholders,” said Joyce Group CEO Dan Madden. 

“Consumer demand remains relatively flat, but our strategy of selectively expanding our network in the right locations, backed by our great brands and highly capable people, means we are still delivering growth and strong cash flow while maintaining a low capital intensity.”

Strong momentum across key brands 

KWB Group, Australia’s leader in kitchen and wardrobe makeovers, expanded its national footprint by 16 per cent to 29 showrooms and posted a record $128.7 million in orders.

New openings included a Kitchen Connection showroom in Alexandria (Sydney) and a flagship site in Bundall (Gold Coast), replacing the smaller Ashmore location. Further NSW growth followed with Auburn (December) and Caringbah (April), boosting KWB’s brand visibility and future sales pipeline.

Meanwhile, Bedshed, Joyce’s furniture and bedding arm, shone with 17.6 per cent revenue growth to $27.2 million, despite soft retail sentiment. With 42 stores (36 franchised), Bedshed benefited from new locations and strong promotions, thereby reinforcing its market position.

For FY26, Joyce Group is gearing up for more organic growth, including new showrooms and further franchise expansion, especially in underserved Australian markets.