Australia's Reliance Worldwide gains most in 1-1/2 years as company reaffirms outlook

Reliance Worldwide

28/04/2026 03:06

** Shares of Reliance Worldwide RWC.AX jump as much as 9.4% to A$3.325, their biggest intraday gain in 1-1/2 years

** Stock hits its highest level since February 27 after the plumbing solutions provider reaffirms its second-half and annual outlook

** Says FY26 net cost impact is now seen at lower end of $25 million–$30 million range, while FY27 impact remains unchanged at $5 million–$7 million based on current tariff rates, excluding any refunds

** Adds that it has no direct exposure to the Iran conflict, noting that higher oil‑linked input costs are being offset by price hikes

** Expects no material impact for FY26 earnings, but flags prolonged war could cloud FY27 outlook

** Stock down 17.2%, YTD

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))