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VENTURES AFRICA – Building materials firm, Cashbuild, on Monday admitted that trading conditions in the second quarter of the year ended December 2013 were harsh.
”Trading conditions remained tough throughout the quarter although gross margin growth in rands has exceeded the top line growth reported during the second quarter. Management continues to focus on actions to maximise sales growth in the current difficult trading environment,” Cashbuild said.
Revenue during the period under review was up 4 percent, it added in its trading update.
Four new stores were opened during the quarter under review, bringing the total number of shops trading at the end of the first half to 207.
The company said a total of eight stores were renovated during this quarter and three stores were relocated.