New stores give Cashbuild a boost amid flat trading

accreditation
Cashbuild
Cashbuild

Building hardware retail company Cashbuild Group [JSE:CSB] announced an increase in its revenue in its first quarter for the financial year 2020 on Monday morning- but only thanks to its new stores.

The company announced a 2% increase in revenue over the quarter.

"Revenue for the Cashbuild Group was up 2% on the first quarter of the prior financial year, 14 new stores opened since 1 July 2018 contributed (the full) 2% of the increase, whilst the 303 existing stores remained at similar levels," the statement said. Product prices in its stores were 3% higher than a year go. 

The SENS statement said the gross profit margin percentage for the group remained at similar levels to those of the same quarter of the prior year.

The statement said during the quarter the group added three new PL & Hardware stores, opened a new Cashbuild store, refurbished one Cashbuild store and closed one Cashbuild store at the expiration of its lease agreement. This brought the total number of stores trading at the end of the quarter to 317.

In September the company announced results for the year to end-June which showed a 6% increase in revenue to almost R11 billion, but excluding new stores, sales only rose by 3%.

By midday, its share price was flat at R211,84.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed. 
Subscribe to News24
Rand - Dollar
18.01
-1.3%
Rand - Pound
20.11
+0.1%
Rand - Euro
17.64
-0.4%
Rand - Aus dollar
11.55
-0.0%
Rand - Yen
0.12
-1.0%
Gold
1,713.07
-0.2%
Silver
20.66
+0.1%
Palladium
2,253.50
-0.2%
Platinum
925.00
+0.3%
Brent Crude
93.37
+1.7%
Top 40
59,416
+0.4%
All Share
65,833
+0.3%
Resource 10
63,279
-0.6%
Industrial 25
80,027
+1.0%
Financial 15
13,997
+0.3%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders