SA's biggest building materials retailer Cashbuild has painted a bleak picture of the state of the economy at ground level, showing struggling low-income earners and bakkie builders are continuing to pull back on home renovations and building work.
The group said in a fourth quarter operational update on Tuesday that revenue at its 308 existing stores decreased 2%, with 10 new stores contributing 2% growth. This, it said, combined with the results in the previous quarters, equated to an overall decrease in revenue of 4% for the year ended June, or a 7% fall when excluding the effects of looting of stores in the prior year.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: News24 - 🏆 4. / 80 Read more »
PODCAST | Finding the right mentor in businessCareer guidance through mentorship takes centre stage in this edition of BusinessDay Spotlight. .mudiwagavz is joined by .Cher_Reddy CEO of EclipsePR. 🎙️ Listen here:
Source: BDliveSA - 🏆 12. / 63 Read more »