Reece reports 24% profit drop amid soft markets

Reece Limited reported a 24% drop in net profit to A$317 million for FY25, with sales down 1% to A$8,978 million. EBIT fell 20% to A$548 million due to soft demand and elevated costs.

Dividends were cut to 18.36 cents per share from 25.75 cents. The company added 39 new branches and completed three acquisitions. Peter Wilson was appointed chairman and chief executive.