Steinhoff books double-digit profit growth, but warns outlook is worsening

Steinhoff International, with majority stakes in Africa’s biggest apparel retailer, Pepkor, as well as Pepco in Europe, says easing Covid-19 restrictions helped with a double-digit rise in core profit in its 2022 financial half year, but it expects pressure on consumers to increase in coming months along with interest rates.

Group revenue from continuing operations grew 12% to €5.15bn in the six months to end-March, with core profit rising 13% to €760m, the latter driven mainly by a stellar performance from Pepkor, whose continued expansion resulted in it adding a net 108 new stores, while also carving out more market share...

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Steinhoff books double-digit profit growth, but warns outlook is worseningEasing Covid-19 restrictions helped lift core profit by 13% in the group’s six months to end-March, but trading conditions remain volatile You're indeed a great man.I assure you that I will bring more clients to you because of what you've done in my life, I promise to let the word know about your company investment.Your work speaks volumes of the kind of man you are, Thank you so much for the profit MarcusJailson5
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