Then we'll look at the update from Cashbuild, the guys who retail low cost building equipment and materials.
Next we had Cashbuild announcing 5 to 10% higher earnings against the comparable 6 month period. For the full year however they are expecting a 25-30% increase in earnings. This is excluding the once off effects of a BEE deal done last year. This is fantastic to see. Although the private sector construction industry is struggling, we can see that private individuals are improving their homes and taking matters into their own hands. It's a sign of tough times but probably also a good indication that things in this industry are getting better.
There are not anymore details in the update so we will have to take a closer look at the actual company when the results come out. From a macro perspective, both companies are reiterating that the consumer is still strong regardless of the sector.