't zal maar gebeuren schreef op 19 juni 2019 08:04:
07:51:07 / 19-06-19 Steinhoff Books EUR1.25 Billion Loss for Fiscal Year 2018 in Delayed Results
By Adam Clark
Steinhoff International Holdings NV (SNH.JO) said Wednesday that it booked another major loss in fiscal 2018 as it disclosed its long-delayed results.
The South African retailer in December 2017 disclosed that it had found irregularities in its accounts, triggering a major investigation and financial restructuring.
Steinhoff booked a net loss of 1.25 billion euros ($1.40 billion) for its year ended Sept. 30, 2018. This was down from a EUR4.04 billion loss the prior year, when the company booked major impairments.
On continuing operations, Steinhoff booked a pretax loss of EUR674 million, narrowed from EUR747 million in fiscal 2017.
Revenue rose to EUR12.83 billion from EUR12.49 billion, it said.
For fiscal 2019, Steinhoff said it expects sales will be hit by disposals, a weaker global economy and stronger competition, as well as continuing uncertainty around its own financial situation. The company also forecasts continuing raised operating expenses and finance costs. Steinhoff said it will restrict its capital spending in order to strengthen free cash flow.
Write to Adam Clark at
adam.clark@dowjones.com(END) Dow Jones Newswires
June 19, 2019 01:51 ET (05:51 GMT)
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