News | 5 per cent up


Cashbuild growth in 2017/2018 purely down to expansion

The South African Cashbuild Group increased its sales in the recently ended fiscal 2017/2018 (ended 30 June 2018) by 5 per cent to ZAR 10.208 bn. Growth was generated exclusively by new stores, with the company opening 25 new outlets during the year. Eleven of these were Cashbuild outlets, six were P&L Hardware stores and eight were outlets acquired by the company and converted to P&L Hardware. The number of stores rose overall by seven per cent to 318.

By far the greatest proportion of the Cashbuild business's sales, amounting to ZAR 8.044 bn, were generated in South Africa. The P&L Hardware business in South Africa accounted for ZAR 1.136 bn and boasted the biggest growth rate by some distance of 18.5 per cent, while Cashbuild only grew by 3.3 per cent. The declared strategy of the corporate group of growing primarily through the expansion of P&L is not without reason, therefore. Sales in Namibia, Swaziland and Lesotho generated ZAR 607 mio (up 1.8 per cent) and those in Botswana, Malawi and Zambia yielded ZAR 421 mio (9.0 per cent).

|28 August 2018

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