Reece (ASX:REH) see sales revenue rise up 9%

Company News

by Rachael Jones

Plumbing and bathroom supplies company Reece (ASX:REH) reported its financial results for the half-year ended 31 December 2019 showing record sales revenue of $2.962 billion for the half year, this represents 9 per cent growth on HY19.

Normalised EBITDA was up 1 per cent to $263 million (HY19: $260m) and normalised NPAT grew 7 per cent to $113m (HY19: $106m).

MORSCO sales revenue was up 19 per cent to $1.496 billion (HY19: $1,253m) and on a like for like and constant currency basis, sales revenue was up 9 per cent.

Shares in Reece (ASX:REH) closed 0.53 per cent higher at $11.44 yesterday.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.