http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 14.23Change: -0.05
R/$ = 10.74Change: -0.10
Au 1285.87 $/ozChange: -7.27
Pt 1424.50 $/ozChange: -3.50
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Mar 17, 2009

Cashbuild interim profit rises 42%

Back
Africa|Africa|South Africa|Building Materials|Net Finance Income|Then Accounting|Cashbuild|Proximity
Africa|Africa||||Proximity
africa-company|africa|south-africa|building-materials|net-finance-income|then-accounting|cashbuild-person|proximity
© Reuse this



South Africa’s largest retailer of building materials, Cashbuild, reported a 42% increase in profit for the six months ended December 2008, rising to R116,9-million the company reported on Tuesday.

Basic and headline earnings a share rose by 42% to 489,5 c a share, compared with the 344,4 c a share recorded in the corresponding period of 2007.

The increase in profit was attributed to a 39% improvement in the company’s operating profit, as well as a 63% increase in the net finance income.

Revenue increased by 28% to R2,57-million in the six-month period, from R2,01-million in the same period of 2007.

Stores in existence since the beginning of July 2007, accounted for 22% of the increase in revenue with the 20 new stores opened since then accounting for balance of the revenue increase.

Gross profit margins for the half-year were slightly higher in percentage terms at 21,5%, compared with the 21% recorded at December 2007, but in rand terms increased by 32%.

Cashbuild stated that its management remained confident about the trading prospects for the next quarter, based on the fact that the first eight trading weeks since the end of the six-month period had recorded a revenue increase of 29% on that of the comparable eight weeks.

The company would also continue its store expansion, relocation and refurbishment strategy in a controlled manner, with three new stores planned to open during the remainder of the financial year. During the period under review, two old stores were closed in towns where two stores were trading in close proximity, and two more were relocated.

Edited by: Mariaan Webb
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
Other Construction News
Tshediso Matona
Public Enterprises Minister Lynne Brown announced on Wednesday that Cabinet had approved the appointment of Department of Public Enterprises (DPE) director-general Tshediso Matona as the new CEO of State-owned electricity producer Eskom. Brown made the announcement...
The 100 days target of creating 1.5-million housing opportunities is set to build houses for the poor and open the housing market for those who cannot access home loans. Human Settlements Minister Lindiwe Sisulu said this, on Tuesday, when she briefed members of the...
Article contains comments
Simon Freemantle
A new report by a leading South African banking group confirms that the middle class has expanded materially in 11 key sub-Saharan African countries over the past 14 years to around 15-million households, from less than 5-million in 2000. But it also cautions that by...
More
 
 
Latest News
A global transportation price index has ranked South Africa the cheapest overall for bus, trains and aeroplane travel for every 100 km out of 51 countries. Online platform GoEuro compared the average price a 100 km of rail, road or air movements between the most...
The processing of the Government Shareholder Management Bill, which was yet to be tabled before Parliament by the Department of Public Enterprises (DPE), would have to be sped up, Portfolio Committee on Public Enterprises chairperson Dipuo Letsatsi-Duba said on...
Gautrain bus drivers went on strike on Wednesday, forcing certain bus services to be suspended, the Bombela Concession Company said. "Please note that a wildcat strike by Gautrain bus drivers in Johannesburg has resulted in the suspension of bus services from Park,...
More
 
 
Recent Research Reports
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
Real Economy Insight: Construction 2014 (PDF Report)
This five-page brief covers key developments in the construction industry over the past 12 months. It provides an overview of the sector and includes details of employment in the sector, infrastructure and municipal spending, as well as insight into companies’...
Real Economy Insight: Electricity 2014 (PDF Report)
This five-page brief covers key developments in the electricity industry over the past 12 months, including details of State-owned power utility Eskom’s generation activities, funding and tariffs, independent power producers and prospects for the sector.
Real Economy Insight: Road and Rail 2014 (PDF Report)
This six-page brief covers key developments in the road and rail industries over the past 12 months, including details of South Africa’s road and rail network and prospects for both sectors.
 
 
 
 
 
This Week's Magazine
The Built Environment unit at the Council for Scientific and Industrial Research (CSIR) has developed a cost-competitive ultrathin concrete pavement surface that, for the upgrading of unpaved roads to paved roads, is more durable than many other pavement alternatives...
The Southern African Large Telescope (SALT), based at Sutherland in the Karoo region in the Northern Cape province, is promising to become an important instrument for research into dark matter. "SALT is shaping up to be very important for answering questions about...
HENK SNYMAN TDM supports broader industrial activity that has a multiplier-effect on the potential to beneficiate raw materials in many industries
The South African tool, die and mouldmaking (TDM) industry is being revitalised to locally produce the tools, dies, moulds and fixtures required by the manufacturing sector. Local TDM capability is key to enable the manufacturing industry to remain competitive, says...
Misfortune often finds its roots in the smallest of things. Such as a centimetre or two. Or is that in inch? Perhaps a foot? Swedish or Dutch? The French had reason to blush in May as it became apparent that national rail operator SNCF had ordered 2 000 trains that...
The repositioning of the Fibre Processing & Manufacturing Sector Education and Training Authority (FP&M Seta) and its business processes will ensure improved performance in reaching strategic targets and in providing customer service.
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks