Steinhoff subsidiary reports interim profit as it warns of litigation uncertainty
The group is involved in multiple multijurisdictional legal claims and regulatory investigations
20 June 2021 - 20:11
UPDATED 21 June 2021 - 15:50
Steinhoff Investment Holdings, a wholly owned subsidiary of Steinhoff International, reported a first-half profit and said it will continue with its proposed global settlement with litigants claiming damages from it regarding an accounting scandal in which the group's former CEO Markus Jooste has been charged by German prosecutors.
The company said revenue from continuing operations increased 8% to R36.5bn in the six months to end-March and operating profit from continuing operations, after other material expenses, improved 149% to R5.2bn...
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