Cashbuild slashes dividend as group expects tougher times

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Cashbuild slashes dividend as group expects tougher times
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The effects of the July 2021 unrest have lingered and consumers spent less on home improvement with Covid-19 lockdowns easing

Building materials retailer Cashbuild reduced its final dividend by more than two-thirds for the year to end-June as the effects of unrest in July 2021 lingered and consumers spent less on home improvement with Covid-19 lockdowns easing

“Management expects trading conditions to remain challenging due to subdued prospects, both in SA as well as globally. Unstable market conditions and inflationary pressures are a reality, impacting the affordability of products and placing pressure on sales growth,” CEO Werner de Jager said on Wednesday...

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