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Reece Ltd (ASX:REH) operates the largest bathroom and plumbing supply business in Australia, Reece, as well as ten other businesses in related industries including irrigation, pools, civil works and HVAC-R (heating, ventilation, air conditioning and refrigeration). Reece began in 1920 when Harold Joseph Reece commenced selling hardware products from the back of his truck. Almost 100 years on, the company has grown to having 8,000 people in 800 branches across Australia, New Zealand and the US.
This morning, Xero Limited (ASX: XRO) announced its financial results for the year to 31 March 2018 showing a 38% increase in revenue and a net loss of $NZ27.8 million.
Australia’s share market, or the All Ordinaries Index (INDEXASX: XAO)(ASX: XAO), is up by 0.55% at lunch.
Reece Ltd (ASX: REH) is expanding into the USA with a $1.91 billion acquisition of MORSCO Inc.
The Australian share market or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index opened higher Monday morning with plumbing store operator Reece Limited (ASX: REH) in the news.
The S&P/ASX 200 (INDEXASX: XJO) (^AXJO) and All Ordinaries (INDEXASX: XAO)(^AORD) indices ended lower on Thursday.
The Australian share market or S&P/ASX 200 (INDEXASX: XJO)(ASX: XJO) index is expected to open slightly higher Thursday morning, according to data from the Sydney Futures Exchange.
The ASX’s ALL ORDINARIES (INDEXASX: XAO)(ASX: XAO) index ended higher on Thursday, with the Wesfarmers Ltd (ASX:WES) and Telstra Corporation Ltd (ASX:TLS) ending firmly in the green.
Wesfarmers Ltd (ASX:WES) shares closed 4.5% lower on Monday, weighing on the ALL ORDINARIES (INDEXASX:XAO)(ASX:XAO) index.
