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.