The group specialises in building materials and products sold directly to the public.

Cashbuild said on Monday that the 39 new stores it opened or acquired since July 1 2016 contributed 5% of the revenue increase.

During the second quarter of 2017, Cashbuild added 11 new stores, which included eight Cashbuild and three P&L Hardware stores.

That brought the total number of stores trading at the end of the quarter to 317.

Cashbuild also operates in countries such as Malawi, Botswana and Zambia.

The retailer’s gross profit margin percentage was slightly lower than the percentage reported for the first half of the previous financial year.

The number of transactions at its tills increased 1% on that of the matching period, with new stores increasing 4% and existing stores decreasing 3%, the group reported.

The share price fell 2.4% on Monday to close at R456, 
giving the company a market cap of R11.6bn.

Cashbuild opened its first store in 1978 and was listed on the JSE’s main board in 1986.

Source: Business Day