REECE LIMITED — Interim / Quarterly Report 2017

Feb 22, 2017

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Half Yearly Announcement

23 February 2017

Summary

						•	Record half-year sales and profit
		1H FY17	1H FY16	Growth			result
						•	Interim dividend of 29 cents per
							share - up 7.4%
	REVENUE	$1,210.7m	$1,141.1m	6.1%		•	Strong balance sheet with Net
							Assets up 3.4% for the six months
							ending 31 December 16
	NPBT*	$137.2m	$127.7m	7.5%		•	Continued to invest in the branch
							network and product
							development
	NPAT**	$96.1m	$89.9m	6.9%
	* before gain on foreign exchange contracts
	** after gain on foreign exchange contracts

Strong sales performance

Revenue ($m)

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$m
1400
$1,211
1200 $1,141
$1,052
1000
$844
$768 $771 $801 $790 $785
800
$719
$650
600
400
200
0
HY07 HY08 HY09 HY10 HY11 HY12 HY13 HY14 HY15 HY16 HY17
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 6.1% to $1.21b

• Continuing to invest in new products and the in store experience

• Opened four new Reece branches

• Sydney Distribution Centre commenced operations

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NPBT before gain on foreign exchange contracts

NPBT ($m)

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$m
160
$137
140
$128
120
$106
100
$86 $86
$82 $83
$79
$77
80
$71
$67
60
40
20
0
HY07 HY08 HY09 HY10 HY11 HY12 HY13 HY14 HY15 HY16 HY17
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 7.5% to $137m

• Record first half result for the group

• Investing in technology and the online offering for both trade and retail customers

Introduced new exclusive products to the group

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NPAT after gain on foreign exchange contracts

NPAT ($m)

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 6.9% to $96m

• Record NPAT result

• Underlying earnings very strong and stable

• Continuing to invest in supporting long term growth

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Half Yearly Announcement 23 February 2017