Cashbuild flags double-digit revenue fall as DIY boom busts
The group expects revenue to fall 12% in its year to end-June, which is in line with its half-year result
25 July 2022 - 14:01
SA’s biggest building materials retailer, Cashbuild, has flagged a double-digit revenue fall for its half year to end-June, still feeling the pinch from July 2021’s riots and the fading effects of a Covid-19-inspired home improvement boom.
Group revenue in the fourth quarter was down 13% year on year, the retailer said in a brief trading update, despite selling inflation of 7.2%, while its 14 new stores contributed a percentage point of growth...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.