Cashbuild adds eleven stores to its network

The South African DIY and building materials chain Cashbuild opened eleven new stores and modernised 23 in the last financial year (ended 30 June 2016). At the reporting date the store network comprised 232 outlets. This figure does not include the ten pilot stores of the Cashbuild DIY distribution channel or the 41 P&L Hardware outlets acquired on 1 June 2016. As of the end of June, therefore, the Cashbuild Group had 283 stores. Cashbuild increased its sales in the last two quarters of the last fiscal year by twelve per cent, with sales in existing stores growing by nine per cent.