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CSB
CSB
CSB - Cashbuild Limited - First Quarter Operational Update - FY 2010
CASHBUILD LIMITED
(Registration number: 1986/001503/06)
(Incorporated in the Republic of South Africa)
JSE share code: CSB ISIN: ZAE000028230
("Cashbuild" or "the company")
FIRST QUARTER OPERATIONAL UPDATE - FY 2010
In line with past practice and disclosure, Cashbuild provides herewith, its
quarterly trading update.
Revenue for the company was up by 10% on the 1st quarter of the prior
financial year. Stores opened since 1 July 2008 (new stores - 14 stores)
contributed 6% of the increase, and existing stores (170 stores) contributed
4%.
Transactions through the tills increased by 14% with new stores adding 7% and
existing stores contributing 7%.
Units sold decreased by 2% (existing stores: 7% decrease).
One new store was opened during this quarter, bringing the number of stores
trading at the end of the quarter to 184. No stores were refurbished or
relocated during this quarter. Four new stores and four refurbishments are
planned for completion during the second quarter of this financial year.
In addition to the factual part of the operational update given above, the
following paragraphs will only deal with indicative information.
Prospects
Management is pleased with the growth in revenue experienced during this
quarter in the light of very little to no inflation in the selling prices.
What is particularly pleasing is the 14% growth in customer transactions of
which 7% is of the existing store base. This growth in customer numbers bodes
well for the future.
In the current tough trading environment, gross profit margins remain under
pressure and are at similar percentage levels as the second half of the
previous financial year. Operating expenses are higher mainly due to the
increase in staff cost with salary increases becoming effective 1 July 2009.
Both of the above consequently had a negative effect on operating margins
Detail per region
The breakdown per region of the factual information given in the update above
is reflected in the following three tables:
Revenue versus prior year Total New Existing Percentage of
per region total sales
% % % %
South Africa Q1 12 7 5 84
Lesotho Q1 23 - 23 2
Namibia Q1 14 - 14 2
Swaziland Q1 11 - 11 5
Botswana (in Rand) Q1 (15) - (15) 6
Botswana (in Pula) Q1 (12) - (12) -
Malawi (in Rand) Q1 5 - 5 1
Malawi (in Kwatcha) Q1 6 - 6 -
Total Cashbuild Q1 10 6 4 100
Transactions versus prior Total New Existing Percentage of
year per region total
transactions
% % % %
South Africa Q1 15 8 7 86
Lesotho Q1 18 - 18 2
Namibia Q1 26 - 26 2
Swaziland Q1 10 - 10 4
Botswana Q1 1 - 1 5
Malawi Q1 12 - 12 1
Total Cashbuild Q1 14 7 7 100
Number of stores - end Total New Existing Percentage of
quarter one total
%
South Africa 157 13 144 85
Lesotho 5 - 5 3
Namibia 4 - 4 2
Swaziland 6 - 6 3
Botswana 11 1 10 6
Malawi 1 - 1 1
Total 184 14 170 100
3 November 2009
Sponsor
Nedbank Capital
Date: 03/11/2009 13:21:01 Produced by the JSE SENS Department.
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