Cashbuild’s operating profit tumbles 56% as sales slump
After Covid building boom, retailers battle as economic headwinds hit consumers
30 August 2023 - 10:21
With consumers under pressure and buying less cement and timber, Cashbuild, which has 318 hardware stores, reports falling sales and an operating profit plunge of 56%.
Expenses rose and sales fell at the group, which has 318 hardware stores. In the year to June 25, Cashbuild's headline earnings per share, a main profit measure in SA, dropped 37% to R12.21. It cut its dividend per share 42% to R3.32. ..
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