Blackwattle Portfolio Manager, Joseph Koh, speaks with the Australian Financial Review about Reece (ASX: REH) performance during a challenging year for the company.
“Blackwattle Investments’ portfolio manager Joseph Koh, an investor in Reece, said the poor performance was not a surprise based on recent results from building materials group James Hardie, which also reported weakness in the US housing market.
Koh said Reece’s problems were being compounded by management’s decision to continue to invest through the cycle, sacrificing margins and cash flow.”
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