CASHBUILD LIMITED CASHBUILD LIMITED
(Registration number: 1986/001503/06) (Incorporated in the Republic of South Africa)
JSE share code: CSBISIN: ZAE000028320 ("Cashbuild" or "the Group")
FOURTH QUARTER OPERATIONAL UPDATE- FY 2022 Cashbuild herewith provides its voluntary quarterly operational update.
Revenue for the fourth quarter of the 2022 financial year ("fourth quarter") for the Cashbuild Group was down 13% when compared to the fourth quarter of the prior financial year ("the comparative period" or "Q4 FY2021"). For the 304 existing stores (in existence prior to July 2020), revenue decreased by 14% and the 14 new stores contributed 1% growth. This, combined with the results reported in the previous quarters, equates to a decrease in revenue of 12% for the financial year ended 30 June 2022 ("the financial year").
Shareholders are reminded of the SENS announcement released on 14 July 2021 relating to violence and looting in South Africa, that affected 36 of the Group's stores during the current financial year. Excluding the effect of the 36 looted stores, revenue for the fourth quarter for the Group was down 11% on the comparative period. This, combined with the results reported excluding looted stores in the previous quarters, equates to a decrease in revenue for the financial year of 7%.
Transactions through the tills during the fourth quarter for the Cashbuild Group decreased by 16% to that of the comparative period, with existing stores decreasing by 17% and new stores contributing 1% growth.
Selling inflation was 7.2% at the end of June 2022 when compared to June 2021.
A revenue performance on a statutory basis per operating segment is reflected in the following table:
Revenue performance 4th Quarter FY2022 versus 4th Quarter FY2021
Operating Segment | Percentage | Total | New | Existing | |
of Total | Growth | Growth | Growth | ||
Sales | % | % | % | ||
Cashbuild South Africa | Half Year | 80 | (12) | 2 | (14) |
Q3 | 81 | (9) | 2 | (11) | |
Q4 | 81 | (13) | 1 | (14) | |
Full Year | 81 | (12) | 2 | (14) | |
Cashbuild Common Monetary Areas | Half Year | 7 | 4 | 6 | (2) |
Q3 | 6 | (1) | 4 | (5) | |
Q4 | 6 | (11) | 3 | (14) | |
Full Year | 6 | (1) | 5 | (6) | |
Cashbuild Other * | Half Year | 5 | (4) | - | (4) |
Q3 | 5 | (19) | - | (19) | |
Q4 | 5 | (12) | - | (12) | |
Full Year | 5 | (10) | - | (10) | |
P&L Hardware South Africa | Half Year | 8 | (24) | 1 | (25) |
Q3 | 8 | (14) | - | (14) | |
Q4 | 8 | (16) | - | (16) | |
Full Year | 8 | (20) | 1 | (21) | |
Total Group | Half Year | 100 | (12) | 2 | (14) |
Q3 | 100 | (10) | 1 | (11) | |
Q4 | 100 | (13) | 1 | (14) | |
Full Year | 100 | (12) | 1 | (13) |
*Botswana, Malawi and Zambia
During the fourth quarter the Group opened 2 new Cashbuild stores, closed 1 non-profitable Cashbuild store and refurbished 16 Cashbuild stores, bringing the total number of stores trading at the end of the financial year to 318.
A store breakdown by operating segment is reflected in the following table:
Number of stores - end of quarter four | Percentage | Total | New | Existing |
of total | ||||
Cashbuild South Africa | 73 | 232 | 11 | 221 |
Cashbuild Common Monetary Areas | 6 | 18 | 2 | 16 |
Cashbuild Other * | 4 | 13 | - | 13 |
Cashbuild DIY Pilot stores | - | 1 | - | 1 |
P&L Hardware South Africa | 17 | 54 | 1 | 53 |
Total Group | 100 | 318 | 14 | 304 |
*Botswana, Malawi and Zambia |
The information contained in this operational update has not been reviewed or reported on by Cashbuild's auditors.
25 July 2022 Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
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Disclaimer
Cashbuild Limited published this content on 25 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 July 2022 11:33:04 UTC.
