• SABC shenanigans

    SA has already embarked on a slippery slope to autocracy, warns Terry Bell in Inside Labour.

  • Zim tastes people power

    Protests in Zimbabwe are forcing Mugabe to face anti-government sentiment, says Memory Mataranyika.

  • Platinum handshake

    Officials who try to do what's right risk far more than blessed wrongdoers, says Solly Moeng.

All data is delayed
Loading...
See More

Cashbuild shares drop to 7-month low

Jan 30 2013 12:26
I-Net Bridge

Company Data

CASHBUILD LIMITED [JSE:CSB]

Last traded 362
Change 4
% Change 1
Cumulative volume 4188
Market cap 0

Last Updated: 22-07-2016 at 05:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Cashbuild Q1 revenue rises 4%

Cashbuild profits up

Cashbuild Q2 revenue up 9%

Cashbuild continues to expand

Cashbuild appoints new CEO

Cashbuild revenue picks up in Q1

 

Johannesburg - Shares in Cashbuild [JSE:CSB] dropped as much 7% on Wednesday to seven-month lows after the building materials retailer reported slow revenue growth in the December quarter.

“The trading update has disappointed the market as the retailer was priced for strong growth‚” Vestact portfolio manager Byron Lotter said.

Revenue for its second quarter to December 2012 was up 1% from a year earlier.

In the past three years‚ revenue growth for the company has been above 8%.

“It is no coincidence the update was released in the same day as African Bank’s‚ which showed a slowdown in unsecured lending. The other potential reason for the slowdown in sales could be the strike activity last year‚ which affected low-income earners’ disposable incomes‚ because the company is largely geared towards rural areas‚” Lotter said.

At 10:37am‚ the share price was down 6.6% at R138.80‚ the lowest level since July 3‚ valuing the company at R3.491bn.  

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

cashbuild

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE SAVINGS ISSUE

Saving can make a lot of things possible, but we all know how hard it is to save. This special Savings Issue will help you get focused.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Sarb's decision to keep the repo rate unchanged is:

Previous results · Suggest a vote

Loading...