Reece's sales up 10%
Reece Ltd has a relatively small retail arm, with the majority of their business focused on trade. Nevertheless, their just announced results dispel myths about headwinds and difficult trading conditions in the Australian economy. True, conditions are difficult for some, but others continue to thrive. Reece's sales increased by 10% in the first half, as did their EBIT. The exceptional result reflects high-quality management, focused on long-term objectives, internal culture, and innovation.