REECE LIMITED — Management Reports 2011

Oct 26, 2011

October 27, 2011

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Reece Australia Limited announces that as a result of the restrained economic conditions, sales for the 3 months ended 30 September 2011 have been flat with the same period last year. As a consequence we expect profit before tax for the first six months ending 31 December 2011 to be down in the order of 5% – 7% compared to the same period last year.

The Board expects these challenging trading conditions to remain whilst the impact of global economic volatility and local economic issues weighs on consumer confidence. The Company is in a very good position with a strong balance sheet, market leading service and products combined with experienced, motivated and hardworking staff.

The company has continued to invest in the Branch network opening 3 new sites in the first quarter.

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L. Alan Wilson Executive Chairman