New stores add to Cashbuild’s revenue and customer base
CASHBUILD’S revenue jumped 9% in the fourth quarter to June from the previous financial year, with 20 new stores opening since the beginning of July 2014, contributing a 3% increase.During the quarter, the retailer of building materials in Southern Africa opened three new stores, 14 were refurbished and one closed at the termination of its lease term. The latest upsurge comes after it had reported a "strong set of results" for the six months to December 2015, excluding a once-off empowerment cost of R63m."Management expect trading conditions to be increasingly competitive into the first quarter of the new financial year. Store development activity is expected to continue at levels consistent with the past year," the group said on Wednesday."Transactions through our tills during the fourth quarter increased 2% compared with the fourth quarter of the prior financial year. New stores contributed an increase of 2%, while existing stores remained at similar levels when compared to the fo...
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