Steinhoff International proves resilient in face of Covid-19
The cash position is better than expected but store closures have depressed revenue
28 August 2020 - 10:53
Steinhoff International, whose businesses included Poundland in the UK and Pepco, says revenues have been trending back to pre-Covid-19 levels since May, and its cash position was better than it expected.
As a result of store closures, however, the group reported a decrease in revenue from continuing operations of 6% to €6.76bn (about R132bn) in its nine months to end-June...
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