Business
Reece (ASX:REH) share price on watch after solid half year results
The Reece Ltd (ASX: REH) share price will be one to watch on Friday.
This follows the release of the plumbing parts company’s half year results after the market close yesterday.
How did Reece perform in the first half?
For the six months ended 31 December, Reece reported a 4% increase in sales revenue to $3,074 million.
This was driven by a 7% lift in Australia and New Zealand sales revenue to $1,564 million and a 1% increase in US sales revenue to $1,509 million. The latter was up 7% in constant currency.
Things were even better for its earnings thanks to margin expansion. The company reported a 12% increase in normalised earnings before interest, tax, depreciation and amortisation (EBITDA) to $349 million. And on the bottom…
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