Menu

Steinhoff reveals sales drop in first trading update since accounting scandal

0 Comment

Steinhoff has unveiled its first trading update since an accounting scandal plagued the company throughout December and January, posting a five per cent drop in total group revenue for its first quarter. The South African retail company said that total revenue for the quarter ended December 31 was €4.86 billion (£4.3 billion), down from the €5.10 billion recorded in the same period the year prior. The company, which owns UK retailers Poundland, Harveys and Bensons for Beds, added that it has appointed six new independent members to the supervisory board after the resignations of Len Konar, Claas Daun, Bruno Steinhoff and Theunie Lategan

Read more:
Steinhoff reveals sales drop in first trading update since accounting scandal

Tags: , , , , , , , , , , , , ,

Leave a Reply

Your email address will not be published. Required fields are marked *

loading...