Australia's Reece hits over one-year high on upbeat quarterly update

** Shares of Australian plumbing products distributor Reece REH.AX rise as much as 10.2% to A$17.360, their biggest intraday pct gain since November 14, 2022

** Stock hits highest level since May 19, 2025

** REH posts Q1 sales revenue of A$2.51 billion ($1.77 billion), up 4.3% YoY

** Expects a strong first half in ANZ but remains cautious on the second half of FY27

** Says ANZ sales rose 12.8%, supported by continued volume momentum and a mid single-digit contribution from inflation

** Reports increase in US sales by 5.6% in Q1, while like-for-like sales increased 2.4%

** However, Reece expects challenging conditions in the US to persist as a subdued residential new construction market continues to weigh on operations

** Stock up 17.6% YTD, including session's moves

($1 = 1.4221 Australian dollars)