Plumbing products manufacturer Reliance Worldwide (RWC) is the not-so-well-known global brand. RWC was the toast of reporting season up +43% in August after reporting better than expected numbers courtesy of sales growth in the USA, no mean feat within a country beset by lockdowns. RWC’s vest known product is Share Bite, a quick and simple plumbing connection solution demonstrated here: https://www.youtube.com/watch?v=YIhk4… RWC’s share price has had a roller-coaster ride since listing on the ASX in 2016 for over $1 billion which was the biggest float in that year. In the period 2016 to 2018 the company could do no wrong growing sales, expanding into Europe and becoming a favorite stock of many value managers. However, downgrades in 2019 and then CV-19 saw RWC drift below the IPO price of $2.50. In this week’s TT we are going to look at this quite polarising company. In this week’s Torpedo Thursday Hugh Dive from Atlas Funds Management looks at the business of RWC and explores whether it’s a viable investment.
