Cashbuild revenues grow by 21 per cent

South African home improvement retailer Cashbuild increased its revenues by 21 per cent to ZAR 6.695 bn (EUR 370 mio) in the second half of 2020. Like-for-like growth came to 19 per cent.
During the period, Cashbuild opened three Cashbuild stores, refurbished eleven Cashbuild and one P&L Hardware stores, and relocated two Cashbuild and one P&L Hardware stores. One Cashbuild and three P&L Hardware stores were closed at the expiration of their lease agreements. Cashbuild has announced it will continue its store expansion, relocation and refurbishment strategy in a controlled manner, applying an even more rigorous process, due to the Covid-19 pandemic and associated economic uncertainties. As of the end of 2020, Cashbuild operated 317 stores, including 229 Cashbuild stores and 58 P&L Hardware stores in South Africa. In Namibia, Swaziland and Lesotho, the common monetary area, it had 17 stores, and in Botswana, Malawi and Zambia, 13 stores.