The chief executive of bathrooms, tapware and plumbing supplies company Reece Group says a softening in sales volumes which began showing up in late 2022 is set to continue for the rest of the year.
Peter Wilson said volumes declined 2 per cent in the December quarter compared with a year ago in the Australasian business, which sells bathtubs, basins, taps and sinks from 650 showrooms. Rising interest rates and shortages of tradespeople have caused some households to rethink renovation projects.
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Simon Evans writes on business specialising in retail, manufacturing, beverages, mining and M&A. He is based in Adelaide. Connect with Simon on Twitter. Email Simon at simon.evans@afr.com
