Embattled global furniture retailer Steinhoff International reported a reduced loss for the six months ending March as it was able to sharply reduce expenses relating to a plethora of advisers it required in the aftermath of the departure of former CEO Markus Jooste.

On Friday, the group reported a marginal increase in revenue to €4,497m for the interim period but was able to sharply reduce its after-tax loss, which fell from €1,520 in the prior corresponding period to €359m for the six months ending March...

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