By Digifin Pty Ltd · About this coverage
Key Points
- ANZ sales up 12.8% on volume momentum and a mid single digit contribution from inflation
- US sales up 5.6%, with like for like sales up 2.4%
- Sales up 8.7% on a constant currency basis
- Reece remains cautious on the second half of FY27
About Reece (ASX:REH)
Reece Limited is an ASX-listed trade supplies group founded in 1920 and headquartered in Cremorne, Melbourne. It sells to plumbers, builders and civil contractors, with ranges spanning plumbing, bathroom and kitchen fit-out, irrigation, and heating, ventilation, air conditioning and refrigeration. It trades through branches and showrooms in Australia and New Zealand and, following its 2018 acquisition of MORSCO, through the Reece USA network in the United States.
Reece (ASX:REH) released its first quarter trading update to show sales growth led by ANZ while the US remained soft, and to say it is cautious on the second half of FY27.
Sales revenue was A$2,510 million for the first quarter, up 4.3% on the same period last year and up 8.7% on a constant currency basis, which applies the average 1Q26 AUD/USD foreign exchange rate to current period sales. ANZ sales were up 12.8%, driven by continued momentum in volumes and a mid single digit contribution from inflation. US sales were up 5.6%, driven by network expansion and low single digit inflation, with like for like sales increasing 2.4%. Reece says the subdued residential new construction market continues to affect its US business. It expects a strong first half for ANZ and a continuation of the challenging environment in the US.
The metrics are derived from unaudited accounting records. The release gives no earnings, margin or regional dollar figures and no FY27 guidance, and Reece says it remains cautious on the second half given the macro economic environment.
Source: Reece Limited (ASX:REH), 30 October 2026. Summary content supplied by Digifin Pty Ltd.
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