Building materials retailer Cashbuild had been faring admirably throughout the recession.

Cashbuild says that revenue for the second quarter of 2009 has increased by 8% on the second quarter of the prior financial year.

Cashbuild, which is reaping rewards for opening stores in rural areas, expects to spend R200m on opening 10 new stores and refurbishing old ones.

Cashbuild is reaping the rewards of staying away from risky credit offerings and selling to lower-income South Africans who are unaffected by rising interest rates

Cashbuild Limited plans to open eight to 10 new stores between January and June this year

Building materials retailer Cashbuild this week said revenue moved up 15% year on year during the second quarter to December, with new stores contributing 6% of the growth

Cashbuild has said that the company's revenue for the last three months of the financial year was up by 35%

Two new shopping centres valued at R95m each are being opened in Kabokweni, in White River, and in Nquthu, in KwaZulu-Natal.

Cashbuild has reported a 30% increase in its revenue for the second quarter of its financial year to end-December compared to that of the year-earlier period

Cashbuild's revenue for the first quarter of the 2006 financial year has seen the positive trend experienced during the 4th quarter of 2005 continue