REECE LIMITED — Interim / Quarterly Report 2016

Feb 24, 2016

Half Yearly Announcement 25 February 2016

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Summary

						•	Record half-year sales and profit
							result
		HY16	HY15	Growth
						•	Interim dividend of 27 cents per
							share - up 12.5%
	REVENUE	$1,143m	$1,052m	8.7%		•	Completed integration of Actrol and Metalflex with back end
							systems and distribution centres
							consolidated
	NPBT*	$127.7m	$106.4m	19.9%		•	Strong balance sheet with Net
							Assets up 4.2% for the six months
							ending 31 December 15
	NPAT**	$89.9m	$80.3m	12.0%		•	Foreign currency unrealised gain of $1.2M with further devaluation
							of the AUD
	* before unrealised gain on foreign exchange contracts
	** after unrealised gain on foreign exchange contracts

Strong sales performance

Revenue ($m)

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$m
1400
1200 $1,143
$1,052
1000
$844
$768 $771 $801 $790 $785
800
$719
$650
600 $551
400
200
0
HY06 HY07 HY08 HY09 HY10 HY11 HY12 HY13 HY14 HY15 HY16
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 8.7% to $1.14b

• Continuing to invest in products and improve the service we provide our customers

• Opened four new Reece branches

• Full integration of the Actrol and Metalflex businesses

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NPBT before unrealised gain on foreign exchange contracts

NPBT ($m)

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$m
140
$128
120
$106
100
$86 $86
$82 $83
$79
$77
80
$71
$67
60 $56
40
20
0
HY06 HY07 HY08 HY09 HY10 HY11 HY12 HY13 HY14 HY15 HY16
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 19.9% to $128m

• Record first half result for the group

• Perth distribution centre complete and will be fully operational in March 2016

• Actively managing cost growth and continuing to invest in the business

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NPAT after unrealised gain on foreign exchange contracts

NPAT ($m)

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$m
100
$90
90
$80
80
70
$60 $60
60 $58 $58 $55
$53
50 $46 $46
$39
40
30
20
10
0
HY06 HY07 HY08 HY09 HY10 HY11 HY12 HY13 HY14 HY15 HY16
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 12% to $89.9m

• Record NPAT result

• Unrealised gain on foreign currency contacts of $1.2m (2014 $8.9m) as a result of AUD decreasing

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Half Yearly Announcement 25 February 2016

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