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CSB
CSB
CSB - Cashbuild - Second Quarter Operational Update - Fy 2007
CASHBUILD LIMITED
(Registration number: 1986/001503/06)
(Incorporated in the Republic of South Africa)
JSE share code: CSB & ISIN: ZAE000028320
("Cashbuild" or "the company")
SECOND QUARTER OPERATIONAL UPDATE - FY 2007
Cashbuild is currently in the process of finalising its results for the half-
year. In line with past practice and disclosure, Cashbuild herewith provides its
quarterly trading update.
Revenue for the company was up by 22% on the second quarter of the prior
financial year. Stores opened since 1 July 2005 (new stores) contributed 12% of
the increase, whilst existing stores increased by 10%. This, together with the
growth reported in quarter one, equates to revenue for the half year being up by
22%, with new stores adding 12%, and existing stores 10%.
Transactions through the tills increased by 20% with new stores adding 15% and
existing stores growing by 5%. Half year increased by 21%, new stores adding 14%
and existing stores 7%.
Units sold increased by 13% (Q1 19%). New stores added 14% (Q1 11%) to the
growth, whilst existing stores decreased by 1% (Q1 increase 8%). Half year
increased by 15%, new stores adding 13% and existing stores 2%.
Eight new stores were opened during this quarter (half year 10) bringing the
number of stores trading at the end of the half year to 160. One store was
relocated during this quarter.
In addition to the factual part of the operational update given above, the
following paragraphs will only deal with indicative information.
Gross profit margins (not operating margin) were in line with expectations and
at similar levels as those of the prior comparable period.
Following measures introduced in the 2nd half of the prior financial year as
well as the non-recurrence of certain once-off expenses, operating expenses for
the quarter remain well under control. The expenses associated with the opening
of new stores were in line with the Cashbuild business model.
Prospects
Management is encouraged by the positive trading experienced in all the regions
over the traditionally good festive season, except Swaziland which was
disappointing, albeit off a very high base. The trend subsequent to quarter two
remains positive and management looks forward to solid trading results for the
rest of the financial year.
The release of the half year results, is scheduled for the week commencing 19
March 2007.
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 Percentage of Total New Existing
year per region total sales
% % % %
South Africa Q1 81 24 12 12
Q2 82 24 15 9
Half 82 24 14 10
year
Lesotho Q1 2 9 - 9
Q2 2 16 - 16
Half 2 12 - 12
year
Namibia Q1 3 31 17 14
Q2 3 18 (3) 21
Half 3 23 5 18
year
Swaziland Q1 7 3 7 (4)
Q2 6 2 4 (2)
Half 7 3 6 (3)
year
Botswana (in Rand) Q1 7 20 - 20
Q2 6 23 - 23
Half 6 22 - 22
year
Malawi (in Rand) Q1 0 3 - 3
Q2 1 10 - 10
Half 0 7 - 7
year
Transaction increase on Percentage of Total New Existing
prior year per region total
transactions
% % % %
South Africa Q1 84 24 15 9
Q2 85 21 17 4
Half 85 22 17 5
year
Lesotho Q1 2 9 - 9
Q2 2 9 - 9
Half 2 9 - 9
year
Namibia Q1 3 44 23 21
Q2 3 13 (1) 14
Half 3 26 9 17
year
Swaziland Q1 5 25 13 12
Q2 5 11 4 7
Half 5 16 8 8
year
Botswana Q1 6 16 - 16
Q2 5 20 - 20
Half 5 18 - 18
year
Malawi Q1 0 7 - 7
Q2 0 0 - 0
Half 0 3 - 3
year
Number of stores - half year Percentage Total New Existing
end of total
%
South Africa 84 134 25 109
Lesotho 3 5 - 5
Namibia 2 4 1 3
Swaziland 4 6 1 5
Botswana 6 10 - 10
Malawi 1 1 - 1
Total 100 160 27 133
15 January 2007
Sponsor
Nedbank Capital
Date: 15/01/2007 13:21:05 Produced by the JSE SENS Department.
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