Cashbuild's interim results reflect tough trading conditions
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GUEST - Werner de Jager – CashBuild CEO
Its interim revenue, operating profit, and headline earnings and dividend for the period ended 25 December 2022 were all down significantly compared to the group’s 2021 and 2020 half years.
Cashbuild was one of the retail sector’s biggest beneficiaries of the Covid-19 home renovations boom and historically low interest rates during the peak of the pandemic, which saw consumers under lockdown spending more on their homes.The group reported a 4% decline in revenue (to R5.6 billion) for its latest half-year, while headline earnings plunged 39% to R156 million, compared to the corresponding half-year period.
Its interim revenue, operating profit, and headline earnings and dividend for the period ended 25 December 2022 were all down significantly compared to the group’s 2021 and 2020 half years.
Cashbuild was one of the retail sector’s biggest beneficiaries of the Covid-19 home renovations boom and historically low interest rates during the peak of the pandemic, which saw consumers under lockdown spending more on their homes.The group reported a 4% decline in revenue (to R5.6 billion) for its latest half-year, while headline earnings plunged 39% to R156 million, compared to the corresponding half-year period.
