Johannesburg – The largest retailer of building materials
and associated products‚ Cashbuild [JSE:CSB] on Friday reported a 4% rise in
its revenue for the first quarter of the financial year‚ compared to the
previous corresponding period last year.
The biggest contributor to the increase were the five new
stores it opened since 2011.
“One new store was opened during this quarter and one
planned store closure was completed during the quarter‚ therefore the number of
stores trading at the end of the quarter remained at 191‚” Cashbuild said in a
note on Friday.
It also said that three stores were refurbished during this
quarter and two stores were relocated.
Cashbuild said operating conditions remained under pressure
for the quarter under review.
“Management is focussed on improving the lower than expected
growth in revenue experienced during the first quarter‚” Cashbuild said.