2200 GMT - Plumbing fittings supplier Reliance Worldwide's 1H result was a bit of a mixed bag, suggests Ord Minnett. Reliance's 1H underlying net profit of US$52.2 million was below the bank's US$55.1 million forecast. Sales for the period were also a touch weaker. Analyst James Casey says Reliance's 1H result was dented by weak end markets, particularly in the U.S. and U.K., and the impact of U.S. tariffs. "That said, outlook commentary is perhaps not as bad as feared, with conditions in 2H broadly consistent with those experienced in 1H," Ord Minnett says. Reliance ended Monday at A$3.85, down some 28% over the past 12 months. Ord Minnett had a hold call and A$4.50/share price target on Reliance ahead of the 1H result.(david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

2332 GMT - Plumbing fittings supplier Reliance Worldwide's 1H result was a bit of a mixed bag, suggests Ord Minnett. Reliance's 1H underlying net profit of US$52.2 million was below the bank's US$55.1 million forecast. Sales for the period were also a touch weaker. Analyst James Casey says Reliance's 1H results were dented by weak end markets, particularly in the U.S. and the U.K., and by the impact of U.S. tariffs. "That said, outlook commentary is perhaps not as bad as feared, with conditions in 2H broadly consistent with those experienced in 1H," Ord Minnett says. Reliance ended Monday at A$3.85, down some 28% over the past 12 months. Ord Minnett had a hold call and a A$4.50/share price target on Reliance ahead of the 1H result.(david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

February 16, 2026 18:32 ET (23:32 GMT)

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