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CSB - Cashbuild Limited - Fourth Quarter Operational Update And Voluntary

Release Date: 27/07/2009 10:26
Code(s): CSB
Wrap Text

CSB - Cashbuild Limited - Fourth Quarter Operational Update And Voluntary Trading Update CASHBUILD LIMITED (Registration number: 1986/001503/06) (Incorporated in the Republic of South Africa) JSE share code: CSB ISIN: ZAE000028320 ("Cashbuild" or "the company") FOURTH QUARTER OPERATIONAL UPDATE AND VOLUNTARY TRADING UPDATE - FY 2009 Cashbuild is currently in the process of finalising its results for the year ended 30 June 2009. In line with past practice and disclosure, Cashbuild herewith provides its quarterly trading update. Revenue for the company was up by 18% on the fourth quarter of the prior financial year. Stores opened since 1 July 2007 (new stores - 22 stores) contributed 10% of the increase, whilst existing stores (161 stores) contributed 8%. Revenue for the financial year increased by 25%. (New stores 7% & existing stores 18%) Transactions through the tills during the 4th quarter increased by 12% with new stores adding 9% and existing stores 3%. For the financial year transactions increased by 9% with new stores adding 7%, whilst existing stores added 2%. Units sold increased by 4%. Existing stores decreased by 3%. For the financial year units sold increased by 19% with existing stores increasing by 12%. Two new stores were opened during this quarter, bringing the number of stores trading at the end of the financial year to 183. One store was relocated during this quarter and 4 stores were refurbished. In addition to the factual part of the operational update given above, the following paragraphs will only deal with indicative information. Prospects Management are satisfied with the growth in revenue experienced during this 4th trading quarter, albeit at lower levels than experienced during the prior three quarters. This 18% growth on top of an 18% growth achieved in the prior year fourth quarter is acceptable in a tough trading environment. As mentioned in the third quarter update, the substantial reductions in the price of steel in recent months resulted in the prices of steel related products having decreased accordingly. Steel related products being a big portion of Cashbuild`s business, as well as the level of stockholding has, in the third quarter and for part of the fourth quarter had a short term negative effect on gross margins as Cashbuild has marked down existing stockholding in line with company strategy of lowest everyday pricing. With this once off negative impact on the gross margins management expects earnings per share and headline earnings per share to increase by between 2% and 12% for the year under review, compared to the year ended 30 June 2008. The above information has not been reviewed or reported on by the company`s auditors and the company`s results for the year ended 30 June 2009 are expected to be published on or about 15 September 2009. Detail per region The breakdown per region of the factual information given in the update above is reflected in the following three tables: Revenue increase on prior year per Percent- Total New Exist- region age of Growth ing total sales % % % %
South Africa Half year 82 27 7 20 Q3 83 29 11 18
Q4 83 17 9 8 Full Year 83 25 9 16
Lesotho Half year 2 29 - 29 Q3 2 26 - 26 Q4 2 18 - 18
Full Year 2 26 - 26 Namibia Half year 2 10 - 10 Q3 2 40 - 40 Q4 2 13 - 13 Full Year
2 17 - 17 Swaziland Half year 5 17 - 17
Q3 5 10 - 10 Q4 5 20 - 20 Full Year 5 16 - 16
Botswana(in Rand) Half year 8 47 - 47 Q3 7 45 - 45
Q4 7 21 - 21 Full year 7 37 - 37
Botswana(in Pula) Half year 36 - 36 Q3 36 - 36 Q4 13 - 13
Full year 30 - 30 Malawi (in Rand) Half year 1 79 - 79 Q3 1 80 - 80 Q4 1 28 - 28 Full year
1 65 - 65 Malawi(in Kwatcha) Half year 47 - 47
Q3 31 - 31 Q4 11 - 11 Full year
33 - 33 Total Half year 100 27 5 22
Q3 100 29 10 19 Q4 100 18 8 10 Full year 100 25 7 18
Transaction increase on prior year Percent- Total New Exist- per region age of Growth ing total transac-
tions % % % % South Africa Half year 86 7 7 - Q3 86 14 11 3 Q4 86 11 9 2 Full year
86 10 9 1 Lesotho Half year 2 5 - 5
Q3 2 10 - 10 Q4 2 15 - 15 Full year 2 9 - 9
Namibia Half year 2 (6) - (6) Q3 2 14 - 14
Q4 2 22 - 22 Full year 2 4 - 4
Swaziland Half year 4 (3) - (3) Q3 4 (1) - (1) Q4 4 12 - 12
Full year 4 0 - 0 Botswana Half year 6 8 - 8 Q3 5 17 - 17 Q4 5 10 - 10 Full year
5 10 - 10 Malawi Half year - 28 - 28
Q3 1 12 - 12 Q4 1 (4) - (4) Full year 1 15 - 15
Total Half year 100 6 6 - Q3 100 13 9 4
Q4 100 12 9 3 Full year 100 9 7 2 Number of stores - end quarter Percentage Total New Existing three of total % South Africa 86 157 22 135 Lesotho 3 5 - 5 Namibia 2 4 - 4 Swaziland 3 6 - 6 Botswana 5 10 - 10 Malawi 1 1 - 1 Total 100 183 22 161 27 July 2009 Sponsor Nedbank Capital Date: 27/07/2009 10:26:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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