Cashbuild had a much stronger fourth quarter trading as revenue increased 13% for the 14 weeks to the end of June, compared with a 13-week period the prior year, while it only increased by 5% over the year.
South Africa’s biggest hardware retail group said in a trading update yesterday that on a more comparable 52-week versus a 52-week comparison, transactions through the tills in the fourth quarter increased 3% over that of the comparative period, with existing stores increasing by 2% and 12 new stores contributed 1% growth.
Also on a 52-week basis, revenue in the fourth quarter rose by 4%. For the 310 existing stores - in existence prior to July 2022 - revenue increased by 3%. Selling inflation was 1,7% at the end of June 2024, when compared to June 2023.
During the fourth quarter three new Cashbuild stores were opened, two under-performing Cashbuild stores were closed, and 14 Cashbuild and two P&L Hardware stores were refurbished. One Cashbuild store was relocated.
There were 322 store trading at the end of the financial year.- Edward West