Cashbuild posts revenue losses and reopens looted shops

Building materials retailer Cashbuild’s share price slumped on Tuesday after it reported that revenue for the December quarter had fallen 11%.

The Johannesburg-based group, with operations also in Botswana, Malawi and Zambia, was hit by the widespread looting in July last year leaving some of its stores in KwaZulu-Natal and Gauteng damaged and shut down, affecting sales...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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