Reece Limited (AU:REH) has released an update.
Reece Limited reports a 5% decline in Q1 FY25 sales revenue to A$2,232 million, citing challenges in the trading environment due to housing market softness and adverse weather conditions. While sales in Australia and New Zealand remained stable due to M&A activity, U.S. sales were impacted by lower volumes and deflation. Despite these challenges, Reece continues to invest in growth, expecting adjusted EBIT for the first half of FY25 to be between A$300 million and A$320 million.
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