Cashbuild’s selling inflation at 4% - CNBC Africa

Cashbuild’s selling inflation at 4%

Southern Africa

by Trust Matsilele 0

Cashbuild’s selling inflation at four per cent as tough trading conditions remain. PHOTOS: Cashbuild

“Trading conditions remained tough throughout the quarter. Selling inflation was at four per cent at the end of September 2014 when compared to September 2013,” said the company.

(READ MORE: Cashbuild reports marginal results)

“Gross profit percentage margins remain at similar levels to those reported for the full prior financial year.”

 The group’s trading statement on SENS also reported that revenue for the company was up by 10 per cent on the first quarter of the prior financial year.

“Stores opened since 1 July 2013 (new stores –18 stores) contributed six per cent of the increase, whilst existing stores (199 stores) contributed four per cent,” read the statement.

“Transactions through our tills during the 1st quarter increased by seven per cent with new stores increasing with seven per cent.”

(READ MORE: Cashbuild sees slight increase in full year revenue)

The group with operations in South Africa, Namibia, Lesotho, Botswana, Swaziland and Malawi said existing stores remained at similar levels.

“Units sold increased by five per cent with existing stores remaining at similar levels. Three new stores were opened, two stores refurbished and two were relocated during this quarter.”

[DATA CSB:Cashbuild Limited] said one store trading in close proximity to another was closed at the end of the quarter bringing the number of stores trading at the end of the quarter to 217.

“Another two Cashbuild DIY stores were opened during this quarter bringing the number of these pilot stores trading by the end of this quarter to eight.”

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