Cashbuild's 2021/2022 sales remain below the record of the previous year

South African home improvement group Cashbuild made a turnover of ZAR 11.145 bn (EUR 655 mio) in the 2021/2022 financial year (ending 26 June 2022). This is a decrease of 12 per cent compared to the same month last year. The year before, Cashbuild turnover had increased by 25 per cent.

In the financial year 2021/2022, revenue for stores in existence prior to July 2020 (pre-existing stores - 304 stores) decreased by 13 per cent, the annual report states. The 14 new stores contributed 1 per cent growth. According to the company, selling price inflation was 7.2 per cent at the end of June 2022 when compared to June 2021.

The looting in July 2021 had a significant impact on Cashbuild's business. If their contribution to sales is factored out, the drop in sales is only 7 per cent.

During the year, Cashbuild opened four new Cashbuild stores, refurbished 21 Cashbuild stores and relocated one Cashbuild store. Four Cashbuild and one P&L Hardware store were closed. The closures relate to the looting that occurred during July 2021 and two continuous non-performing stores, the annual report specifies.

The Cashbuild stores in South Africa make by far the highest contribution to the trade and retail company's sales volume. In the past financial year, they accounted for ZAR 8.984 bn (EUR 528 mio). The P&L Hardware stores in South Africa turned over ZAR 922 mio (EUR 54 mio). Cashbuild also operates in Namibia, Swaziland and Lesotho, which form a common monetary area with South Africa, as well as in Botswana, Malawi and Zambia.