Reece (ASX:REH) shares closed 8.4% higher at A$17.09 on Friday 30 October 2026, the best performance in the ASX 200, according to ASX data and Investing.com. The plumbing and bathroom supplies group reported strong first-quarter sales in Australia and New Zealand at its AGM, two days after its shares fell 8.8% on broker downgrades.
What Reece reported
According to Reece’s first-quarter trading update for FY27:
| Region | Sales growth |
|---|---|
| Group | Up 4.3% to A$2.51 billion (8.7% in constant currency) |
| Australia and New Zealand | Up 12.8% |
| United States | Up 5.6% (like-for-like up 2.4%) |
Chairman and CEO Peter Wilson said, “We have seen a strong Q1 in ANZ as the existing pipeline of activity supported ongoing momentum in the region.”
The US remains the weak spot. Wilson said it “has remained soft, with the subdued residential new construction market continuing to impact our business.”
Reece expects a strong first half in Australia and New Zealand, but is “cautious on the second half of FY27” given the economic environment.
Shareholders deliver a first strike
At Friday’s AGM, about 34% of votes were cast against Reece’s remuneration report, a first strike, according to the AGM results. A similar share voted against its 2030 remuneration framework for key executives.
Peter Wilson was re-elected with 98.44% of votes, and director Angela Mentis retired from the board.
The insider angle: the Wilson family and director buying
Reece is controlled by the Wilson family. Family member John Gay Wilson reported a relevant interest of 58.43% in his latest substantial holder notice, covering 361,013,785 shares. At Friday’s A$1.33 rise, those shares gained about A$480 million in value in a single day.
Directors who bought on market this year are now in profit, according to Market Index records:
| Director | Date | Shares | Price | Gain at A$17.09 |
|---|---|---|---|---|
| Jacqueline Chow | 31 Mar 2026 | 3,500 | A$13.80 | +24% |
| Angela Mentis | 4 Mar 2026 | 5,800 | A$15.20 | +12% |
Chow, who now chairs Reece’s remuneration committee, is also a director of Coles, whose shares fell 7.7% on the same day.
Peter Wilson was also issued 3,854,626 shares and 10,469,012 options in March at a reference price of A$13.81, according to Market Index. Our Megaport insider trading analysis explains how to read these notices.
What Reece investors should watch
- US sales, where housing construction remains weak
- The half-year result, and whether ANZ momentum holds
- Remuneration changes before next year’s AGM, to avoid a second strike
- Director trades in Appendix 3Y notices after the rally
Bottom line
Strong Australian sales sent Reece shares sharply higher, but the US is still soft and shareholders are unhappy about pay. With the Wilson family holding the majority of shares, insiders remain firmly in control. As with Temple & Webster’s turnaround, the next update will show if the momentum lasts.
