Reece Limited (ASX: REH), a leading distributor of plumbing, waterworks, and HVAC-R products with over 900 branches across Australia, New Zealand, and the United States, has announced its Appendix 4D and Interim Financial Report for the six-month period ended 31 December 2025. The company reported a 5.6% increase in sales revenue to $4,647.5 million, driven by network expansion. Reece Group was established in 1920 and has approximately 9,000 employees.
Despite the revenue growth, Reece’s EBITDA decreased by 5.7% to $447.7 million, impacted by elevated costs associated with network expansion, investment in strategic initiatives, and modest operating cost inflation. EBIT declined by 14.0% to $261.9 million, reflecting higher depreciation and amortisation. Net profit after tax (NPAT) fell by 20.3% to $144.2 million.
In Australia and New Zealand (ANZ), sales revenue rose by 4% to $2,062.4 million, supported by modest volume growth. However, EBITDA in ANZ decreased by 4% to $260.5 million, and EBIT fell by 7% to $171.6 million, attributed to ongoing investments in employee proposition, digital projects, and general cost inflation. In the United States, sales revenue increased by 6% to US$1,696 million, while EBITDA decreased by 9% to US$123 million and EBIT decreased 26% to US$55 million, driven by costs tied to network expansion.
The company has declared an interim dividend of 5.44 cents per share, fully franked, payable on 1 April 2026, with a record date of 18 March 2026. This compares to an interim dividend of 6.50 cents per share in the previous corresponding period. The results reflect challenging housing market conditions across both regions. The company secretary, Chantelle Duffy, authorised the release of the announcement.
