Cashbuild grows through expansion and P&L acquisition

The South African Cashbuild Group has reported sales growth of 15 per cent for the months of July to December 2016 as the first half of its fiscal 2016/2017. The sales of the building materials and DIY group during this period amounted to ZAR 5.171 bn. Business under the Cashbuild brand in South Africa, which grew by 3.9 per cent, accounts for ZAR 4.140 bn of this figure. The P&L Hardware business with 44 stores, which Cashbuild acquired on 1 June 2016, contributed ZAR 501 mio and eleven per cent to overall sales growth. In Namibia, Swaziland und Lesotho, the countries in the common monetary area, sales totalled ZAR 318 mio (plus 0.9 per cent), while sales in Botswana, Malawi and Zambia came to ZAR 212 mio (plus 1.4 per cent).
Cashbuild opened nine stores and closed two between July and December, while P&L Hardware opened two outlets. At the year end the group had 293 stores in total, including ten Cashbuild DIY pilot stores.