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4-Traders Homepage  >  Equities  >  Johannesburg Stock Exchange  >  Steinhoff International Holdings NV    SNHJ   NL0011375019

STEINHOFF INTERNATIONAL HOLDINGS NV (SNHJ)
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Steinhoff International : flags first half loss as restructuring wipes out sales gain

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05/18/2018 | 04:33pm CEST
FILE PHOTO: A Poundland employee checks products in a store in London

FRANKFURT (Reuters) - South African retailer Steinhoff, which has been embroiled in an accounting scandal, expects to report a first-half net loss as costs related to restructuring, losses on asset sales and litigation offset a rise in revenues.

Group retail revenue is expected to rise 1 percent to 9.4 billion euros (8.2 billion pounds) in the six months through March 2018, it said following a meeting with lenders on Friday, citing preliminary figures.

It did not disclose the size of its first-half loss after tax was but said it was preparing to publish unaudited first-half figures on June 29.

The retailer has been fighting for survival after it discovered accounting irregularities in December which sparked a sell-off in its shares that wiped more than $10 billion off its stock market value and led to multiple investigations globally.

The company's shares were up around 10 percent at 1425 GMT.

It said on Friday it hoped to have a restructuring plan in place shortly to put to creditors that would include measures such as fixing the maturity for all loans at three years from the restructuring date.

Steinhoff, which runs retail chains such as Britain's Poundland, Mattress Firm in the U.S. and Conforama in France, has hired auditors PwC to investigate its problems and the accounting firm has gathered millions of records.

Earlier this month, it said that PwC's investigation had found that overstatement of its profits might result in additional material impairments, which it would present along with full first-half results in June.

(Reporting by Maria Sheahan; Editing by Douglas Busvine and Jane Merriman)

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Financials (€)
Sales 2017 20 243 M
EBIT 2017 1 867 M
Net income 2017 1 509 M
Debt 2017 4 359 M
Yield 2017 129%
P/E ratio 2017 0,32
P/E ratio 2018 0,26
EV / Sales 2017 0,24x
EV / Sales 2018 0,20x
Capitalization 432 M
Chart STEINHOFF INTERNATIONAL HO
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Steinhoff International Ho Technical Analysis Chart | SNHJ | NL0011375019 | 4-Traders
Technical analysis trends STEINHOFF INTERNATIONAL HO
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Income Statement Evolution
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Mean consensus
Number of Analysts 0
Average target price 5,52 €
Spread / Average Target 5 401%
EPS Revisions
Managers
NameTitle
Daniël Maree van der Merwe Chief Executive & Operating Officer
Heather Joan Sonn Chairman-Supervisory Board
Philip Dieperink CFO & Member-Supervisory Board
Steve F. Booysen Independent Member-Supervisory Board
Angela Krüger-Steinhoff Member-Supervisory Board
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