Cashbuild (CSB) H2 2025 earnings summary

Executive summary

• Revenue increased by 3% to ZAR 11.5 billion for the 52 weeks ended 29 June 2025, with all trading areas showing positive growth on a 52-week basis.

• Operating profit rose 6% to ZAR 344 million, adjusted for prior year impairments.

• Headline earnings per share up 10% to ZAR 1.40 (1,040 cents); dividend per share up 12% to ZAR 6.26 (626 cents).

• Store base at 318 after closures and conversions, with new formats and refits progressing well.

• Mass retailer focused on cash sales and competitive pricing in building materials and home improvement.

Financial highlights

• Gross profit margin improved to 24.8% from 24.7% year-over-year, with gross profit at ZAR 2.85 billion.

• Operating expenses increased 5%, mainly due to above-inflation staff increases and property costs.

• Net financing cost declined to ZAR 33 million due to lease profile and cash management.

• Cash and short-term funds at ZAR 1.9 billion, nearly doubled year-over-year.

• Net asset value per share up 4% to R79.96; shareholders' equity rose 4% to R1.9 billion.

Outlook and guidance

• Early weeks of FY2026 show 6% sales growth and 5.8% increase in customer transactions.

• New store formats and refits expected to continue, with CapEx remaining elevated due to IT and acquisitions.

• Allboard/Allbuildco acquisition pending regulatory approval, expected to close within the year.

• DIY market sentiment is more optimistic than a year ago, but challenges remain from low economic growth and geopolitical tensions.