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Second Quarter Operational Update - FY2014
CASHBUILD LIMITED
(Registration number: 1986/001503/06)
(Incorporated in the Republic of South Africa)
JSE share code: CSB ISIN: ZAE000028230
(“Cashbuild” or “the company”)
SECOND QUARTER OPERATIONAL UPDATE – FY 2014
Cashbuild is currently in the process of finalising its results for the half-year ended December
2013. In line with past practice and disclosure, Cashbuild herewith provides its quarterly
operational update.
Revenue for the company was up by 4% on the second quarter of the prior financial year. Stores
opened since 1 July 2012 (new stores – 16 stores) contributed 4% of the increase, whilst existing
stores (191 stores) remained at similar levels to the prior year. This, together with the growth
reported in the first quarter, equates to an increase in revenue for the half year of 7%.
Transactions through the tills during the 2nd quarter increased by 1% to that of the comparative
period (half year: 2%). New stores increased with 5% and existing stores decreased with 4%.
Total units sold increased by 3% with existing stores decreasing by 1% for the 2nd quarter. Half
year units sold increased by 8% on prior half year, with existing stores increasing by 4%.
Four new stores were opened during this quarter (half year: 7 stores) bringing the number of
stores trading at the end of the half year period to 207. Eight stores were refurbished during this
quarter (half year: 13), and three stores were relocated (half year: 4).
Trading conditions remained tough throughout the quarter although gross margin growth in rands
has exceeded the top line growth reported above during the second quarter. Selling inflation was
at 4% at the end of December 2013. Gross margins for the half year improved to similar levels of
the first half of the prior year although the growth still lags that of expense growth as result of
increased store development activity. Management continues to focus on actions to maximise
sales growth in the current difficult trading environment.
Detail per region
The breakdown per region of the factual information given in the update above is reflected in the
following three tables:
Revenue versus prior year per region Total New Existing Percentage
of total sales
% % % %
South Africa Q1 9 5 4 88
Q2 3 5 (2) 87
Half Year 6 5 1 87
Lesotho Q1 21 - 21 3
Q2 2 - 2 3
Half Year 11 - 11 3
Namibia Q1 37 - 37 1
Q2 27 - 27 2
Half Year 31 - 31 2
Swaziland Q1 17 - 17 4
Q2 11 4 7 4
Half Year 14 2 12 4
Botswana (in Rand) Q1 15 - 15 4
Q2 10 - 10 4
Half Year 12 - 12 4
Botswana (in Pula) Half Year 3 - 3
Malawi (in Rand) Q1 76 - 76 -
Q2 7 14 (7) -
Half Year 36 8 28 -
Malawi in Kwatcha) Half Year 42 8 34
Total Cashbuild Q1 10 4 6 100
Q2 4 4 - 100
Half Year 7 4 3 100
Transactions versus prior year per Total New Existing Percentage
region of total
transactions
% % % %
South Africa Q1 3 4 (1) 89
Q2 1 6 (5) 89
Half Year 2 5 (3) 89
Lesotho Q1 5 - 5 2
Q2 - - - 2
Half Year 2 - 2 2
Namibia Q1 18 - 18 2
Q2 10 - 10 2
Half Year 13 - 13 2
Swaziland Q1 4 - 4 3
Q2 4 2 2 3
Half Year 4 1 3 3
Botswana Q1 - - - 4
Q2 (6) - (6) 4
Half Year (3) - (3) 4
Malawi Q1 8 - 8 -
Q2 5 5 - -
Half Year 7 3 4 -
Total Cashbuild Q1 3 4 (1) 100
Q2 1 5 (4) 100
Half Year 2 5 (3) 100
Number of stores – end quarter two Total New Existing Percentage of
total
%
South Africa 180 14 166 87
Lesotho 5 - 5 2
Namibia 3 - 3 2
Swaziland 7 1 6 3
Botswana 10 - 10 5
Malawi 2 1 1 1
Total 207 16 191 100
27 January 2014
Sponsor
Nedbank Capital
Date: 27/01/2014 01:51:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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