CAPE TOWN – Cashbuild lifted its final dividend 21 percent to 420 cents per share in the 52 weeks to end June, but management warned that trading conditions were expected to remain tough in the year ahead.
South Africa's largest retailer of building materials and associated products reported a 6 percent decline in headline earnings per share to 1750 cents.
Operations director Shane Thoresson described the results as reasonable in a tough trading environment.
Thoresson said a lot of work still needed to be done in the next 12 months to improve the results further.
He said that consumers were cash-strapped, but people were still spending money on upgrading homes and on decorative work, as opposed to low demand for building materials for new buildings, developments and infrastructure.