Cashbuild HEPS see 33% dip
Cashbuild out with full year numbers showing slowing demand for building materials as the economy struggles to recover from the corona virus pandemic and inflation climbs. Cashbuild CEO, Werner de Jager spoke to CNBC Africa for more.
Wed, 31 Aug 2022 11:35:34 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- Cashbuild's headline earnings per share dropped by 33% in the latest full-year results, signaling challenges in the market.
- The company is experiencing inflation-driven price increases, particularly in steel and steel-related products, impacting its cost structure.
- Despite operational challenges, Cashbuild remains focused on strategic cost management and revenue growth, with plans to expand in South Africa while exploring opportunities in alternative energy solutions like solar power.
Cashbuild, a leading provider of building materials, has reported a 33% dip in headline earnings per share in its latest full-year financial results. The CEO, Werner de Jager, highlighted the challenges the company is facing due to slowing demand for building materials, along with rising inflation and uncertain economic conditions. De Jager emphasized that the current macroeconomic environment is putting significant pressure on consumers, impacting the company's revenue streams. The key theme of the interview centered around the tough market conditions faced by Cashbuild, particularly in the wake of the ongoing COVID-19 pandemic and volatile economic landscape. The company is grappling with inflation-driven price increases and operational challenges, prompting a strategic focus on cost management and revenue growth. Despite these challenges, Cashbuild remains committed to its expansion plans in South Africa, albeit with a cautious approach following a setback in Zambia. The company is exploring opportunities in alternative energy solutions, such as solar power, as part of its ongoing commitment to sustainability and operational efficiency.
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