REECE LIMITED — Interim / Quarterly Report 2018

Feb 21, 2018

Half Yearly Announcement

22 February 2018

• Record half-year sales and profit result
• Interim dividend of 6.0 cents per share - up 3.5%
• Strong balance sheet with net gearing of 4% at 31 December 2017 (net debt/net debt plus equity)
• Continuing the investment in all areas of the business

Strong sales performance

Revenue ($m)

10.0% to $1.3b

• Opened four new branches plus the addition of eight branches with the Viadux acquisition
• New Zealand Distribution Centre commenced operations in the first half
• Strong focus on enriching the in and out of store experience for our customers

Net Profit Before Tax (NPBT)

NPBT ($m)

10.0% to $151m

• Record first half result for the group
• Enhanced online offering for both trade and retail customers
• Introduced new innovative and exclusive products to the group
• Delivering value to customers and investors

Net Profit After Tax

NPAT ($m)

10.0% to $106m

• Record NPAT result
• Record result delivered while continuing to invest in capabilities, to support long term growth
• Core business fundamentals are strong, resulting in strong and consistent earnings

Half Yearly Announcement

22 February 2018