Reece Australia: Result 2012

Reece’s slightly lower profit was a decent result in difficult market conditions. If only the company would lift its payout ratio.

While its competitors and suppliers are suffering, plumbing and bathroom supplies company Reece Australia has managed to contain the damage from Australian residential building consents falling 12% during the 2012 financial year.

Reece’s revenues fell 3% to $1,529m, while net profit fell 5% to $113m. An unchanged fully franked final dividend of 40 cents was declared (ex date 2 Oct), making 61 cents for the year.

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