Filomena Scalise Filomena Scalise
Cashbuild reported on Monday that revenue for the company for the fourth quarter was up by 5% on the fourth quarter of the prior financial year.
Stores opened since 1 July 2009 (new stores - 13 stores) contributed 3% of the increase, while existing stores (178 stores) increased by 2%.
Revenue for the financial year ended 30 June 2011 increased by 6%. (New stores 3% & existing stores, 3%).
Transactions through the tills during the 4th quarter increased by 1% with new stores adding 3% and existing stores decreasing by 2%. For the financial year transactions increased by 4% with new stores adding 3%, while existing stores added 1%.
Units sold during the fourth quarter increased by 17%. Existing stores increased by 14%. For the financial year units sold increased by 11% with existing stores increasing by 8%.
One new store was opened during this quarter and one store closed (trading in close proximity to another existing store), bringing the number of stores trading at the end of the financial year to 191. One store was relocated during this quarter and five stores were refurbished.
Cashbuild said gross profit margin remained stable during the fourth quarter at similar levels to those experienced during the first half. Selling price inflation was around 2% at the end of June 2011 when compared to June 2010.
Looking ahead, the group added: “Management expect trading conditions to remain competitive into the new financial year. Revenue for the first three trading weeks since year-end have reported an increase of 11% on that of the comparable three weeks. - I-Net Bridge