Reliance turns on the profit tap

Wilson Asset Management

Wilson Asset Management

On Monday water control solutions and plumbing manufacturer Reliance Worldwide Corporation (ASX: RWC) announced its maiden results since listing in April this year. The company reported net sales of $534.4 million, up 18% on FY15. Shares in Reliance closed down 7.4% for the week. We like Reliance as its current product suite is delivering double-digit growth and we believe its newly trademarked product EvoPEX will greatly streamline new home installation by replacing skilled labour. We own Reliance as a research-driven investment in WAM Leaders.

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Wilson Asset Management

Wilson Asset Management has a track record of making a difference for shareholders and the community for more than 20 years. As the investment manager for eight leading LICs – WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB),...

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