Cashbuild shows increased revenues and expanded footprint
JSE-listed building material supplier Cashbuild is working hard to expand its footprint and grow its revenue through the addition of several new stores, as well as an acquisition.
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Despite operating in a tough trading environment, Cashbuild, which currently has 222 outlets across South Africa, has successfully increased its revenue, and company management has said it feels positive about the business's future prospects.
In the first six weeks of the new year trading, a revenue gain of 11% year-on-year has already been seen. The 24 new stores that the company opened over the past two years allegedly added as much as 5% to the business's revenue.
Cashbuild's acquisition of P&L Hardware - a transaction reportedly valued at some R350 million - entails the buying out of 39 retail building material and hardware outlets located primarily in Limpopo and Mpumalanga, and will significantly increase Cashbuild's footprint.
The company said it plans to continue its store expansion, relocation and refurbishment strategy into the future.