Shares of Reliance Worldwide Corporation Ltd Revenue growth led by SharkBite PTC segment
Revenue growth led by SharkBite PTC segment: Shares of Reliance Worldwide Corporation Ltd (ASX: RWC) zoomed up 8.9% on August 28, 2017, after the company reported 25.9% surge in net profit after tax at $65.6 million for FY17 over pro forma FY16 Results. RWC has posted 12.6% yoy (year on year) growth in net sales at $601.7 million, while posting 17.2% growth on a constant currency basis. The increase in sales was driven by continued expansion of SharkBite PTC business in the Americas operating segment, including a sales benefit in the second half from the initial rollout of product to approximately half of Lowe’s 1,700+ stores in the USA. This was partially offset by a decline in the AUD translated value of sales in the EMEA segment that was primarily due to a materially stronger AUD/GBP exchange rate post Brexit. Accordingly, EBITDA
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