Does anyone know what the gist of the article about Reece in The Australian newspaper this week was about after the AGM?
I am quite happy with US revenue growth. 1st qtr sales went from US $473M to US $518M. Thats 9.5% growth in constant currency and before the latest Todd Pipe acquisition which will give a further boost. US will be a big runway for growth I would think. 1st qtr ANZ sales went from AUD$732M pcp to AUD $738M. Thats not bad considering the domestic economic environment.
Given the good US sales growth and even better conversion to AUD I was surprised that EBITDA for curent half is forecast to be similar to last year. If the reason is because of investing in people, technology, thats great. If its because of lower gross margins that is a worry. Anyone got any insights?
REH Price at posting:
$10.16 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)