Cashbuild flags earnings fall as it counts cost of looting
Looting hit more than 10% of Cashbuild’s store base, and the company is also facing a waning Covid-19 home-improvement boom
23 August 2022 - 11:24
UPDATED 23 August 2022 - 18:53
SA’s biggest building materials retailer, Cashbuild, has flagged an up to 35% fall in headline earnings per share (Heps) for its 2022 year, hit by violent riots in KwaZulu-Natal and Gauteng, as well as the crumbling of the pandemic-induced home improvement boom.
Heps are expected to fall between 30% and 35% to as low as 1,867.2c, the firm said in a trading update, which would be about 2.2% below pre-pandemic levels...
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