High interest rates and increased costs for food and fuel have crimped discretionary spending, dampening the growth prospects of home building and renovations companies.  

On Wednesday, JSE-listed building material company Cashbuild reported a sharp drop in earnings in the half-year to December as consumers cut back on new building projects and renovations, and it warned that trading for the rest of its 2023 financial period will remain subdued. Cashbuild said subsequent to the half-year period, group revenue for the first six weeks of this year is 8% lower than the prior year’s comparative period. ..

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