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Highlights

  • GWA Group is an ASX-listed company that supplies building fixtures and fittings for residential and commercial properties
  • In FY24, GWA’s revenue jumped 0.4% YoY, while NPAT increased by 3.4% YoY
  • Perpetual Investment Management Limited has the largest stake in the firm with a shareholding of 16.27%

GWA Group Limited (ASX:GWA) is an Australian company that supplies building fixtures and fittings for residential and commercial properties. The company focuses on research, design, importation, and marketing of its products.

In the financial year 2024 (FY24), the company recorded 0.4% YoY increase in its revenue to AUD 413.5 million and NPAT increased by 3.4% YoY to AUD 45.6 million. During the reported period, normalised EBIT of the company increased by 5.4% YoY, demonstrating effective cost management.

In FY24, the company demonstrated ongoing cash flow generation with a cash conversion ratio of 110%. Further, GWA’s financial position remains on track as net debt decreased by 17%.

Top 10 shareholders of GWA

The top 10 shareholders of GWA collectively account for approximately 46.89% of the total shares. Perpetual Investment Management Limited is the largest shareholder, holding 16.27% of the shares, while Spheria Asset Management Pty Limited follows with a 7.87% stake.

Recent business update

Through an ASX update dated 6 September 2024, the company notified that a GWA director, Bernadette Josephine Mary Inglis has bought 6,500 shares for a consideration of AUD 15,338.31.

Outlook

The company is focusing on key areas including healthcare, commercial aged care, affordable housing projects, volume home builders, commercial office refurbishment and maintenance plumbers. This approach intends to drive growth in the current challenging market.

The company's evolving strategy, which focuses on a 'Customer First' approach and 'Profitable Volume Growth,' combined with its commitment to 'Winning the Plumber,' establishes a solid foundation for growth in FY25 and beyond.

Share performance of GWA

GWA shares closed 1.31% higher at AUD 2.32 apiece on 17 September 2024. In the past one year, GWA’s share price has surged by almost 27.12%, while in the last three months, it has recorded a gain of gain of 3.57%.

52-week high of GWA is AUD 2.87, recorded on 14 March 2024 and 52-week low is AUD 1.625, recorded on 19 October 2023.

GWA Daily Technical Chart, Source: REFINITIV

Note 1: Past performance is neither an Indicator nor a guarantee of future performance.

Note 2: The reference date for all price data, and currency, is 17 September 2024. The reference data in this report has been partly sourced from REFINITIV.