Steinhoff finally released its annual report and financial statements for the financial year to end September 2021 just after lunch on Friday, with its hefty 276 pages of important information outlining the progress to get the group back into shape. While the progress is notable – from settling litigation to streamlining and decentralising underlying operations – most shareholders would immediately turn to the income statement on page 97.
The improvement in operations and restructuring of the underlying businesses, such as the listing on different stock exchanges in the main countries of operations, indicates that things are looking better. “Trading conditions in the second half of the financial year were more encouraging as the impact of Covid-19 broadly continued to reduce.
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