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Reliance Worldwide Announces Half Year Results

22 Feb 2021  |  08:04:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Half Year Results Announcement

Reliance Worldwide announced half year results. Its balance sheet has been strengthened considerably over the past two years due to strong operating cash flow generation, with net debt to EBITDA declining from 1.67 times as at 31 December 2018 to 0.88 times as at 31 December 2020. Net cash inflow from operating activities for the period was $155.6m an increase of 17% on pcp. Working capital was down by $15.1m since 30 June 2020 due to foreign currency translation impacts.

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