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Highlights

  • GWA Group is an Australia-based supplier of building fixtures and fittings designed for households and commercial premises
  • For the half-year ended 31 December 2023, the company reported a revenue of AUD 207.1 million, 2.9% higher than the revenue of AUD 201.3 million reported in 1HFY22
  • The top 10 shareholders of the company together hold around 41.30% of the total shareholding

GWA Group Limited (ASX: GWA) is an Australia-based supplier of building fixtures and fittings designed for households and commercial premises. The company is also engaged in research, design, import and marketing activities. Additionally, GWA distributes various products through a range of distribution channels in Australia, New Zealand and selected international markets.

For the half-year ended 31 December 2023, the company reported a revenue of AUD 207.1 million, 2.9% higher than the revenue of AUD 201.3 million reported in 1HFY22. The company said a favourable product mix and price increase drove its revenue growth. But it was partially offset by a volume contraction.

However, due to cost-saving measures undertaken by the company in response to the decline in volumes and cost increases, its net profit after tax jumped by 14.9% year-on-year to AUD 21.3 million in the first half of FY23.

GWA’s Strategic Focus

The company is focused on advancing the implementation of strategic initiatives, such as deepening and leveraging plumbing relationships, undertaking innovation through design & partnerships, building a comprehensive after-market capability, and making disciplined and targeted investments in local & international markets. Further, it is making investments in digital opportunities for enhanced customer experience. All these initiatives are aimed at driving revenue growth over the medium term.

The company is committed to launching new products, evolving its independent living range, targeting new markets and customers, and undertaking cost management initiatives.

Top 10 Shareholders

The top 10 shareholders of the company together hold around 41.30% of the total shareholding. Perpetual Investment Management Limited and Spheria Asset Management Pty Limited hold the maximum stakes in the company at 10.96% and 5.22%, respectively. Here are the other top investors in the company.

GWA Share Price Performance

GWA shares closed 2.285% higher at AUD 1.790 apiece on Monday (3 July 2023). The stock price has gone down by nearly 1.82% in the last one month, and over the last six months, stock prices went down by around 14.68%. The stock has a 52-week low and 52-week high of AUD 1.600 and AUD 2.260, respectively, and is currently trading below the mid-range of the 52-week-high-low levels.

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

Note 2: The reference date for all price data, currency, is 3 July 2023. The reference data in this report has been partly sourced from REFINITIV.