160310 Cashbuild annual results.picture Simphiwe Mbokazi

Johannesburg - Cashbuild’s (CSB) revenue for the quarter ended December 2012 was up by 1% on the second quarter of the prior financial year‚ it said on Wednesday.

Stores opened since 1 July 2011 - 7 new stores - contributed 2% of the increase‚ whilst existing stores -187 stores - decreased by 1%. This‚ together with the growth reported in quarter one‚ equates to an increase in revenue for the half year of 2%‚ it said.

Transactions through the tills during the second quarter and half year remained at similar levels to that of the comparative periods. New stores increased with 2% and existing stores decreased with 2%. Total units sold decreased by 5%‚ with existing stores’ units decreasing by 7%. Half year units sold decreased by 2% on prior half year‚ with existing stores’ units decreasing by 4%.

Two new stores were opened during this quarter (half year: 3 stores) bringing the number of stores trading at the end of the half year period to 194. Ten stores were refurbished during this quarter (half year: 13)‚ and two stores were relocated (half year: 4).

Selling inflation was at 1.9% at the end of December 2012 when compared to December 2011. Gross profit percentage margins for the half year are higher than the comparative period of the prior year but have declined from those reported in the second half of the prior financial year‚ it said. - I-Net Bridge