After 18 months slogging through screeds of financial statements, Deloitte told investors who trawled through Steinhoff’s 339-page, 2018 annual report that it was not able “to obtain sufficient, appropriate audit evidence to provide a basis for an audit opinion on the consolidated and separate financial statements”.

It seems investors decided to make up their own minds. Within hours of the release of the report, the share price had slumped to R1.27  in intra-day trade on Thursday, a whisker away from the all-time low it reached in June 2018. It closed 5.84% lower at R1.29. 

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.