Cashbuild hit by intensified protests and load-shedding
Independent competitors and unregulated and inferior products are hurting the building materials retailer
01 March 2023 - 09:46
UPDATED 01 March 2023 - 18:53
SA’s largest retailer of building materials, Cashbuild, reported a 149% surge in the number of days it had to shut stores due to local protests in the last six months of 2022.
This was revealed by Cashbuild CEO Werner De Jager when the firm released its interim results to December 25 on Wednesday. He said the company lost 117 trading days in the period under review, while in the half-year to 2021, it lost 47 trading days owing to unrest. It excluded the Kwazulu-Natal riots in 2021, which it treats as a one-off event. ..
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