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Company News Summary

Reece Provides HY2022 Results Announcement

24 Feb 2022  |  16:19:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: HY22 Results Announcement

Reece announced the Company's financial results for the half year ended 31 December 2021 (HY2022). Sales revenue has increased by 17% to $3,600m (HY2021: $3,074m), driven by robust market conditions and execution by the team. Normalised EBITDA was up 14% to $397m (HY2021: $349m) and statutory net profit after tax grew 28% to $157m (HY2021: $123m). In December 2021, the Company refinanced its existing debt facilities with A$1.25bn syndicated revolving facility which is governed by a Common Terms Deed and is unsecured. The Board has declared a fully franked dividend of 7.5 cps. The record date for the dividend is 29 March 2022 and will be paid on 12 April 2022.

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