Cashbuild forecasts higher revenue

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IOL image Cashbuild store INDEPENDENT MEDIA Cashbuild. Picture: Simphiwe Mbokazi.

Building materials group Cashbuild (CSB) said on Monday it expected its group revenue for the 53 weeks ended June 30 to rise 11%‚ from the 52-week corresponding period a year ago.

Total growth in transactions in the review period were expected to rise 2%‚ from the same period a year ago.

The company said despite the competitive trading environment‚ gross profit margins continued to edge higher during its fourth quarter and were at levels higher than those experienced during the first half. Selling price inflation was around 3% at the end of June when compared to June 2011.

The number of stores trading at the end of the financial year was 191.

“Management expects trading conditions to remain competitive into the first quarter of the new financial year. Store development activity is expected to deliver one new store‚ four refits and at least two relocations in the first quarter of the new financial year‚” the company said. - I-Net Bridge

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