Builder merchant Cashbuild (CSB) said in an operational update on Tuesday that the company's revenue for the last three months of the financial year was up by 35% on the fourth quarter of the prior financial year.
Cashbuild is currently in the process of finalising its results for the year ended 30 June 2007. They added that stores opened since 1 July 2005 (new stores) contributed 11% of the increase, while existing stores increased by 24%. Revenue for the financial year increased by 27%.
Transactions through the tills in quarter four increased by 29% with new stores adding 12% and existing stores growing by 17%. For the financial year transactions increased by 25% with new stores adding 15%, while existing stores added 10%.
Units sold for quarter four increased by 12%, new stores adding 10% and existing stores increasing by 2%. For the financial year units grew by 15%.
Four new stores were opened during this quarter, as well as one old store being closed (in a town where two stores were trading in close proximity), bringing the number of stores trading at the end of the financial year to 164. Two stores were refurbished and three stores were relocated during this quarter.
A further announcement will follow closer to the release of the full year results, which is scheduled for the week commencing 17 September 2007.
At 13:48, the company's shares were trading 3 rand higher at R67.00.
