Revenues of Cashbuild, JSE-listed building materials supplier, had gained 6 percent in the fourth quarter of the past financial year boosted by the 24 new stores that were opened in 2012, it said on Monday.

“Twelve of the 24 new stores opened, are in proximity of existing Cashbuild stores, causing an overlap of trading area with resultant impact on existing stores sales growth and customer transactions,” Cashbuild said in the firm’s trading update released on Monday.

Cashbuild said business through the company’s cash registers during the period under review increased by 5 percent.

New stores added an increase of 7 percent to the firm’s tills while existing stores reduced by 2 percent.

“Total units sold for the fourth quarter increased by 1 percent to the prior year with existing stores decreasing by 4 percent,” it said.

Five new shops were opened during the period under review while two chainstores were renovated and moved to other areas during the fourth quarter of the past financial year.

Six Cashbuild DIY pilot stores were trading at the end of the fourth quarter. But trading conditions remained tough throughout the quarter.

“Selling inflation was at 5% at the end of June 2014 when compared to June 2013. Gross profit percentage margins remain strong and increased from levels reported at the half year,” it said.