Cashbuild turnover down 4 per cent year-on-year in second half of 2022

South African home improvement retailer Cashbuild has reported sales of 5.649 bn South African Rand (ZAR, EUR 291 mio) in the second half of 2022 (ending 25 December 2022), down 4 per cent on the same period last year. On a like-for-like basis, revenue was down 5 per cent. During the period under review, the company opened three new Cashbuild stores and two P&L Hardware stores and remodelled twelve Cashbuild locations. Four Cashbuild stores and one P&L location were closed. At the end of the year, the company operated 316 stores, including 53 locations under the P&L Hardware banner.