Cashbuild blames difficult Christmas for decline in H1 profits

Cashbuild, a leading retailer in building materials in South Africa, has reported a decline in profits for the first half of the year. Werner de Jager, the CEO of Cashbuild, attributed the decrease in profits to recent accounting changes and a challenging trading period in December. The company's financial performance has been impacted by various factors, including changes in accounting methods and tough market conditions. Despite these challenges, Cashbuild remains optimistic about the future of the business. Cashbuild has faced a difficult trading environment in recent months, with a decline in profits for the first half of the year. The company's CEO, Werner de Jager, cited accounting changes and a tough trading period in December as key factors contributing to the decline. In a recent interview with CNBC Africa, de Jager discussed the challenges facing Cashbuild and outlined the company's strategic plans to address them. One of the key points raised by de Jager was the impact of recent accounting changes on Cashbuild's financial performance. The company has undergone significant changes in its accounting methods, which have led to a decrease in profits for the first half of the year. De Jager emphasized the importance of adapting to these changes and implementing strategic measures to improve the company's financial performance. Another key theme discussed in the interview was the tough trading period experienced by Cashbuild in December. De Jager highlighted the challenges faced by the company during this period, including lower sales and decreased consumer spending. Despite these challenges, Cashbuild remains committed to implementing strategies to drive growth and improve profitability. In addition to addressing the challenges faced by Cashbuild, de Jager also outlined the company's strategic plans for the future. He emphasized the importance of innovation and adapting to changing market conditions to ensure the long-term success of the business. De Jager expressed confidence in Cashbuild's ability to overcome the current challenges and achieve sustainable growth in the future. In conclusion, Cashbuild has reported a decline in profits for the first half of the year, attributed to accounting changes and a difficult trading period in December. Despite these challenges, the company remains focused on implementing strategic measures to improve financial performance and drive growth. With a strong commitment to innovation and adaptation, Cashbuild is optimistic about the future and confident in its ability to navigate the current market challenges.