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Sales News South Africa

Steinhoff FY HEPS down 2% to 453.7c vs 461.7c

Furniture company Steinhoff International (SHF) full-year HEPS in the year ended June 30 2015 were down 2% to 453.7c from 461.7c in the year-earlier period, the furniture company said on Tuesday...
Steinhoff FY HEPS down 2% to 453.7c vs 461.7c

Revenue from continuing operations increased 15% to R135bn. The dividend was up 10% to 165c per share.

The group's multi-brand household goods retail businesses performed well during the year under review, the company said.

Sales for this segment as measured in euro, increased by 7% to 7.6bn, led by a strong performance in continental Europe and the UK.

In France, the group's investment in a customer-centric convenient store network to optimise its click-and-collect capabilities continued to prove successful. Online sales increased by 22% and now represented 7.2% of total revenue in this country, Steinhoff said.

"Profitability in Switzerland was impacted by the rebranding and restructuring costs. The German household goods market remained strong and another six large format stores were opened during the year with the group now trading from 108 stores in that region," it said.

The German concept store had been introduced to Poland and the Netherlands, it said.

The eastern European region performed strongly during the year, while the UK delivered a creditable performance, it said.

The retail operations in Australia and New Zealand performed well during the year, the company said.

The Pepkor acquisition became effective 31 March 2015 and consequently the results for three months were consolidated in this set of results, the company said.

"The trading environment in Africa remained challenging during the year under review."

The planned Frankfurt listing was expected to enhance the group's access to a wider pool of global capital markets, the company said.

At 2.49pm the counter was trading 4.19% higher at R81.48.

Source: BDpro

Source: I-Net Bridge

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