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CASHBUILD LIMITED - Third Quarter Operational Update FY 2014

Release Date: 24/04/2014 11:37
Code(s): CSB     PDF:  
Wrap Text
Third Quarter Operational Update – FY 2014

CASHBUILD LIMITED
(Registration number: 1986/001503/06)
(Incorporated in the Republic of South Africa)
JSE share code: CSB                     ISIN: ZAE000028230
(“Cashbuild” or “the company”)

THIRD QUARTER OPERATIONAL UPDATE – FY 2014

In line with past practice and disclosure, Cashbuild herewith provides its quarterly operational
update.

Revenue for the company was up by 6% on the third quarter of the prior financial year. Stores
opened since 1 July 2012 (new stores – 19 stores) contributed 6% of the increase, whilst existing
stores (191 stores) remained at similar levels. Nine of the 19 new stores opened, are in proximity
of existing Cashbuild stores, causing an overlap of trading area with resultant impact on existing
stores sales growth and customer transactions. The growth for the third quarter together with the
growth reported in the first half, equates to an increase in revenue year to date of 7%.

Transactions through the tills during the third quarter increased by 2% compared to the third
quarter of the prior financial year. New stores contributed an increase of 4% while existing stores
decreased by 2%. Total units sold for the third quarter remained at similar levels to the prior year
with existing stores decreasing by 3%.

Three new stores were opened during this quarter, bringing the number of stores trading at the
end of the third quarter to 210. Two stores were refurbished and one relocated during this quarter.

Trading conditions remained tough throughout the quarter. Selling inflation was at 5% at the end
of March 2014 when compared to March 2013. Gross profit percentage margins remain strong at
similar levels to those reported at the half year.

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                    Half Year          6           5            1             87
                                   Q3              5           5            -              8

Lesotho                         Half Year         11           -            11             3
                                   Q3            (12)          -           (12)            3

Namibia                         Half Year         31           -           31              2
                                   Q3             26           -           26              2

Swaziland                       Half Year         14            2          12              4
                                   Q3             22           12          10              4

Botswana (in Rand)              Half Year         12           -           12              4
                                   Q3         7      -       7             4
Botswana (in Pula)                 Q3        (2)     -      (2)

Malawi (in Rand)               Half Year     36      8       28            -
                                  Q3         38     47       (8)           -
Malawi (in Kwatcha)               Q3         30     42      (12)

Total Cashbuild                Half Year     7      4        3            100
                                  Q3         6      6        -            100


Transactions versus prior year per region   Total   New   Existing     Percentage
                                                                         of total
                                                                      transactions
                                             %      %        %              %

South Africa                   Half Year     2       5      (3)           89
                                  Q3         2       4      (2)           89

Lesotho                        Half Year      2      -       2             2
                                  Q3         (9)     -      (9)            2

Namibia                        Half Year     13      -       13            2
                                  Q3          8      -        8            2

Swaziland                      Half Year      4      1       3             3
                                  Q3         10     13      (3)            3

Botswana                       Half Year     (3)     -      (3)            4
                                  Q3         (2)     -      (2)            4

Malawi                         Half Year      7      3       4             -
                                  Q3         21     24      (3)            -

Total Cashbuild                Half Year     2       5      (3)           100
                                  Q3         2       4      (2)           100

Number of stores – end quarter three        Total   New   Existing   Percentage of
                                                                         total
                                                                           %
South Africa                                183     17      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                                       210     19      191           100

24 April 2014

Sponsor
Nedbank Capital

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