Continuing with analysts' questions, Mr Sharp (CEO) said 'August would be noisy' but last four weeks were better than the last eight weeks, although he said that one wouldn't bank that result. In other words, don't draw conclusions. It will be bumpy but Mr Sharp said the main difference with today against the last 30 years was the supply chain craziness.
FY 23 margins are uncertain and will depend on volume and mix, but 4Q 22 was good. No guidance on margins has been given. A focus on costs will hopefully see margins responding.
At this point, no unseen operating expenditure costs.
If USA businesses have been seeing good sales due to 'pro demand' (i.e. plumbers), that's good as this was RWC's space.
The CFO wouldn't go into further detail re decline in July 2022 sales to original equipment manufacturers and small independents who weren't just householders. He said that information would be 'too granular'. This came across as somewhat evasive, although perhaps it's very 'commercial-in-confidence').
RWC takes a universal approach on pricing. Many OEMs are on index pricing (I assume this means 'subject to regular increases if justified').
RWC Price at posting:
$4.51 Sentiment: Hold Disclosure: Held
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