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Johannesburg - Retailer of building materials and associated products Cashbuild [JSE:CSB] on Monday reported an 8% rise in revenue in the first quarter from the previous comparative period.
The group said five new stores opened since July 1 2010 contributed 1% of the increase, while existing stores, at 186, contributed 7%.
Transactions through the tills during the first quarter increased by 1%, with new stores adding 2% and existing stores decreasing by 1%, Cashbuild said.
Units sold went up by 10%, while existing stores increased by 8%.
"No new stores were opened during this quarter, therefore the number of stores trading at the end of the first quarter remained at 191. Two stores were refurbished during this quarter and no stores were relocated," the group said.
"Management is satisfied with the growth in revenue experienced during this quarter. Trading conditions remained tough throughout the quarter.
"Selling inflation was at 4.1% at the end of September 2011 when compared to September 2010. Gross profit percentage margins have declined slightly when compared to that reported for the previous financial year," Cashbuild said.
The group said five new stores opened since July 1 2010 contributed 1% of the increase, while existing stores, at 186, contributed 7%.
Transactions through the tills during the first quarter increased by 1%, with new stores adding 2% and existing stores decreasing by 1%, Cashbuild said.
Units sold went up by 10%, while existing stores increased by 8%.
"No new stores were opened during this quarter, therefore the number of stores trading at the end of the first quarter remained at 191. Two stores were refurbished during this quarter and no stores were relocated," the group said.
"Management is satisfied with the growth in revenue experienced during this quarter. Trading conditions remained tough throughout the quarter.
"Selling inflation was at 4.1% at the end of September 2011 when compared to September 2010. Gross profit percentage margins have declined slightly when compared to that reported for the previous financial year," Cashbuild said.
