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CSB
CSB
CSB - Cashbuild Limited - Fourth Quarter Operational Update And Voluntary
Trading Update
CASHBUILD LIMITED
(Registration number: 1986/001503/06)
(Incorporated in the Republic of South Africa)
JSE share code: CSB ISIN: ZAE000028320
("Cashbuild" or "the company")
FOURTH QUARTER OPERATIONAL UPDATE AND VOLUNTARY TRADING UPDATE - FY 2009
Cashbuild is currently in the process of finalising its results for the year
ended 30 June 2009. In line with past practice and disclosure, Cashbuild
herewith provides its quarterly trading update.
Revenue for the company was up by 18% on the fourth quarter of the prior
financial year. Stores opened since 1 July 2007 (new stores - 22 stores)
contributed 10% of the increase, whilst existing stores (161 stores) contributed
8%. Revenue for the financial year increased by 25%. (New stores 7% & existing
stores 18%)
Transactions through the tills during the 4th quarter increased by 12% with new
stores adding 9% and existing stores 3%. For the financial year transactions
increased by 9% with new stores adding 7%, whilst existing stores added 2%.
Units sold increased by 4%. Existing stores decreased by 3%. For the financial
year units sold increased by 19% with existing stores increasing by 12%.
Two new stores were opened during this quarter, bringing the number of stores
trading at the end of the financial year to 183. One store was relocated during
this quarter and 4 stores were refurbished.
In addition to the factual part of the operational update given above, the
following paragraphs will only deal with indicative information.
Prospects
Management are satisfied with the growth in revenue experienced during this 4th
trading quarter, albeit at lower levels than experienced during the prior three
quarters. This 18% growth on top of an 18% growth achieved in the prior year
fourth quarter is acceptable in a tough trading environment.
As mentioned in the third quarter update, the substantial reductions in the
price of steel in recent months resulted in the prices of steel related products
having decreased accordingly. Steel related products being a big portion of
Cashbuild`s business, as well as the level of stockholding has, in the third
quarter and for part of the fourth quarter had a short term negative effect on
gross margins as Cashbuild has marked down existing stockholding in line with
company strategy of lowest everyday pricing.
With this once off negative impact on the gross margins management expects
earnings per share and headline earnings per share to increase by between 2% and
12% for the year under review, compared to the year ended 30 June 2008.
The above information has not been reviewed or reported on by the company`s
auditors and the company`s results for the year ended 30 June 2009 are expected
to be published on or about 15 September 2009.
Detail per region
The breakdown per region of the factual information given in the update above is
reflected in the following three tables:
Revenue increase on prior year per Percent- Total New Exist-
region age of Growth ing
total
sales
% % % %
South Africa Half year
82 27 7 20
Q3 83 29 11 18
Q4 83 17 9 8
Full Year
83 25 9 16
Lesotho Half year
2 29 - 29
Q3 2 26 - 26
Q4 2 18 - 18
Full Year
2 26 - 26
Namibia Half year
2 10 - 10
Q3 2 40 - 40
Q4 2 13 - 13
Full Year
2 17 - 17
Swaziland Half year
5 17 - 17
Q3 5 10 - 10
Q4 5 20 - 20
Full Year
5 16 - 16
Botswana(in Rand) Half year
8 47 - 47
Q3 7 45 - 45
Q4 7 21 - 21
Full year
7 37 - 37
Botswana(in Pula) Half year
36 - 36
Q3 36 - 36
Q4 13 - 13
Full year
30 - 30
Malawi (in Rand) Half year
1 79 - 79
Q3 1 80 - 80
Q4 1 28 - 28
Full year
1 65 - 65
Malawi(in Kwatcha) Half year
47 - 47
Q3 31 - 31
Q4 11 - 11
Full year
33 - 33
Total Half year
100 27 5 22
Q3 100 29 10 19
Q4 100 18 8 10
Full year
100 25 7 18
Transaction increase on prior year Percent- Total New Exist-
per region age of Growth ing
total
transac-
tions
% % % %
South Africa Half year
86 7 7 -
Q3 86 14 11 3
Q4 86 11 9 2
Full year
86 10 9 1
Lesotho Half year
2 5 - 5
Q3 2 10 - 10
Q4 2 15 - 15
Full year
2 9 - 9
Namibia Half year
2 (6) - (6)
Q3 2 14 - 14
Q4 2 22 - 22
Full year
2 4 - 4
Swaziland Half year
4 (3) - (3)
Q3 4 (1) - (1)
Q4 4 12 - 12
Full year
4 0 - 0
Botswana Half year
6 8 - 8
Q3 5 17 - 17
Q4 5 10 - 10
Full year
5 10 - 10
Malawi Half year
- 28 - 28
Q3 1 12 - 12
Q4 1 (4) - (4)
Full year
1 15 - 15
Total Half year
100 6 6 -
Q3 100 13 9 4
Q4 100 12 9 3
Full year
100 9 7 2
Number of stores - end quarter Percentage Total New Existing
three of total
%
South Africa 86 157 22 135
Lesotho 3 5 - 5
Namibia 2 4 - 4
Swaziland 3 6 - 6
Botswana 5 10 - 10
Malawi 1 1 - 1
Total 100 183 22 161
27 July 2009
Sponsor
Nedbank Capital
Date: 27/07/2009 10:26:01 Produced by the JSE SENS Department.
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