Reliance Worldwide Corp. Ltd. (AU:RWC) has released an update.
Reliance Worldwide Corp. Ltd. reported a marginal increase in net sales to $1,245.8 million for the financial year ended June 30, 2024, a 0.2% rise, slightly offset by the acquisition of Holman Industries. Despite achieving $23 million in cost savings, the company’s reported net profit after tax (NPAT) fell by 21% to $110.1 million due to softer market conditions and one-off items. Adjusted NPAT also saw a decrease of 5.7% compared to the previous year, standing at $146.9 million.
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