Cashbuild posts 2% rise in H1 revenue
JSE-listed Cashbuild posted a 2% increase in revenue for the six months ended December 31, 2012, on the back of a 1% year-on-year rise in revenues for the second quarter of the 2013 financial year, owing chiefly to income from several new stores.
The company had opened seven new stores since July 2011, which contributed 2% of the revenue increase for the second quarter, while revenue from its other 187 stores decreased by 1%.
Gross profit percentage margins for the half-year were higher than the comparative period of the prior year but had declined from those reported in the second half of 2012.
Meanwhile, transactions through the tills during the second quarter and half-year remained at similar levels to that of the comparative prior-year periods, with transactions in new stores increasing by 2% and existing stores decreasing by 2%.
Total units sold decreased by 5%, while units sold through existing stores decreased by 7%.
Half-year units sold decreased by 2% on the previous half year, with existing stores’ sold units decreasing by 4%.
Two new stores were opened during the second quarter, bringing the number of stores trading at the end of the half-year to 194
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