One of the Australia's Best Run Businesses

This multi-generational company has created significant wealth for it shareholders over an extended period of time.

Prudentially run and conservatively financed.

I bought my first REH share in 1996 for a very simple reason: the guy behind the counter stayed back one evening to help me find a very specific coupling I needed for a bathroom in which I was doing some DIY renovating.

When I said I had to leave, he stayed back and later that night dropped the part on my front door step, presumably on his way home.

Since then I have had many similar encounters from people who are Reece customers.

Speaking to plumbers over the years, I've heard many similar stories ("if Reece don't have it, no one will", and the corollary, "if Reece don't have it, then they'll get it for you.")

Now they are reporting a 15% Pre-tax profit growth for FY14.

And this is even before the national housing build has gotten into its full stride.

Whoever thought that plumbing could be such a thing of beauty?