Plumbing supplies group Reliance Worldwide is stepping up cost-cutting as global economic conditions deteriorate, with chief executive Heath Sharp saying it is “super-difficult” to make forecasts even though Australian bathroom renovators are still driving solid sales.

Mr Sharp said Reliance, which operates large businesses in North America and the United Kingdom, had increased prices by 7.9 per cent in the September quarter to offset rising input costs, but cost-cutting was now required to try to stop profit margins falling further.