1 October we become SureStone CapitalSame team, same ABN. Our website and email addresses move to surestone.com.au.
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Key points:
Reliance reports a one-third profit boost due to the Holman Industries contributionTariff uncertainties prompt diversified sourcing and strengthened US manufacturingStrategic acquisitions continue to play a key role in global growth
Heath Sharp from Reliance Worldwide reports a robust first half with a profit boost of one-third, thanks to Holman Industries. Adjusted Npat grows over 12% to $76 million, and sales rise 15% to $676 million, with a five US cents interim distribution. Heath emphasises the company's strong team execution amid inflation and declining volumes, achieving margin expansion. Cash conversion nears 90%, reflecting a shift to normalcy after last year's inventory adjustments. North American sales perform well despite market challenges, with cautious optimism for 2025.
Reliance Worldwide navigates tariff uncertainties by diversifying sourcing and enhancing US manufacturing. The Holman acquisition strengthens retail capabilities, driving synergy in Australia. Heath confirms ongoing pursuit of strategic acquisitions to bolster continued growth.
