New stores secure twelve percent growth for Cashbuild

The South African building materials supplier and DIY store company Cashbuild increased its sales in the last financial year 2016/2017 (ending 30 June 2017) by twelve percent to ZAR 9.730 bn. Revenue for stores in existence prior to July 2015 decreased by two per cent; these were 219 stores, plus the nine Cashbuild DIY pilot stores. In contrast, the 23 new stores, which have been opened since then, contributed four per cent and P&L Hardware ten per cent to revenue growth, as stated in the annual report. The company speaks of tough trading conditions with selling price inflation of two per cent in the report. Apart from South Africa, it is also present in Botswana, Malawi and Zambia.
During the financial year 2016/2017, Cashbuild opened twelve new stores. Twelve stores were refurbished, two stores were relocated and four P&L Hardware stores were opened. Two stores were closed, one traded in close proximity to another Cashbuild store, and the other reached the end of its lease term, the annual report continues. The DIY pilot continues with nine Cashbuild DIY pilot stores.