Cashbuild interim HEPS edges up 4%

Cashbuild, a retailer of building materials and related services, recently announced that their Headline earnings per share (HEPS) had increased by 4% despite facing a difficult macroeconomic and trading environment. The company also declared a flat interim dividend of 326c. The CEO of Cashbuild, Werner de Jager, discussed the company's performance in an interview with CNBC Africa, highlighting the challenges and opportunities in the current market. De Jager expressed satisfaction with the results achieved in the context of the ongoing economic pressures and indicated that the company was pleased with the performance during the period. He acknowledged that the past year had seen a surge in demand for home improvement products, with increased interest in DIY projects and renovations. The company noted a shift in product performance, with a growing demand for building-related items such as cement and bricks. De Jager attributed this increase in demand to the company's aggressive pricing strategies and targeted marketing efforts, which have attracted new customers to their stores. Despite the challenging trading conditions and uncertainty in the market, Cashbuild has managed to maintain a reliable supply chain due to its local sourcing practices. De Jager emphasized that the company's focus remains on expanding its store network and enhancing customer service to drive growth. While some competitors have not seen the anticipated increase in consumer spending following recent economic stimulus measures, Cashbuild remains vigilant in managing its pricing and gross margins to navigate the tough market conditions. Looking ahead, the company anticipates continued challenges in the trading environment but remains committed to expanding its business and ensuring customer satisfaction.