Cashbuild Limited (JSE: CSB) reported a 4% increase in revenue for the fourth quarter of FY 2024. This growth is compared to the fourth quarter of FY 2023, covering 52 weeks. The revenue growth was supported by a 3% increase from 310 existing stores and a 1% contribution from 12 new stores.
Transactions Through Tills
Transaction volumes rose by 3% in the fourth quarter. Existing stores saw a 2% increase, while new stores contributed 1% to the overall growth.
Comparative Revenue Performance
52 Weeks Comparison
The following table illustrates the revenue performance of Cashbuild’s operating segments for FY 2024 compared to FY 2023 over 52 weeks.
| Operating Segment | Percentage of Total Sales | Total Growth % | New Growth % | Existing Growth % |
|---|---|---|---|---|
| Cashbuild South Africa | 82 | 4 | 2 | 2 |
| Cashbuild Common Monetary Areas | 6 | 3 | – | 3 |
| Cashbuild Other* | 4 | (6) | – | (6) |
| P&L Hardware | 8 | (3) | 1 | (4) |
| Total Group | 100 | 3 | 1 | 2 |
*Botswana and Malawi
Statutory Revenue Performance
53 Weeks Comparison
For the 14-week fourth quarter, revenue increased by 13% compared to the 13 weeks in the prior year. For the full financial year, revenue increased by 5%.
Transactions Through Tills
Transactions for the 14-week fourth quarter rose by 12%. For the full year, transactions grew by 3%.
| Period | Percentage of Total Sales | Total Growth % | New Growth % | Existing Growth % |
|---|---|---|---|---|
| Q4 FY 2024 (14 Weeks) | 100 | 13 | 1 | 12 |
| Full Year FY 2024 (53 Weeks) | 100 | 5 | 1 | 4 |
Store Openings and Closures
Store Activity
During Q4, Cashbuild opened 3 new stores and closed 2 underperforming stores. Full-year activity included 5 new Cashbuild stores, 1 P&L Hardware store, and 2 closures.
Refurbishments and Relocations
Cashbuild refurbished 14 Cashbuild stores and 2 P&L Hardware stores in the fourth quarter. Full-year refurbishments included 18 Cashbuild stores and 2 P&L Hardware stores. Additionally, 1 Cashbuild store was relocated.
Store Count
At the end of FY 2024, Cashbuild operated 322 stores, broken down as follows:
| Operating Segment | Number of Stores | New Stores | Existing Stores |
|---|---|---|---|
| Cashbuild South Africa | 240 | 11 | 229 |
| Cashbuild Common Monetary Areas | 18 | 0 | 18 |
| Cashbuild Other* | 11 | 0 | 11 |
| P&L Hardware | 53 | 1 | 52 |
| Total Group | 322 | 12 | 310 |
*Botswana and Malawi
Selling Inflation
Selling inflation stood at 1.7% at the end of June 2024, compared to June 2023.
Auditor Review
The operational update has not been reviewed or reported on by Cashbuild’s auditors.
Conclusion
Cashbuild’s fourth quarter update shows a solid performance with revenue and transaction growth. The group’s expansion and refurbishments reflect its ongoing commitment to strengthening its market presence.
