* FY headline EPS 317 cents vs 239.9
* Revenue up 87 pct at 80.43 billion rand
* Shares little changed
(Adds details)
JOHANNESBURG, Sept 4 (Reuters) – South African furniture
retailer Steinhoff International reported a 32 percent
rise in full-year profit on Tuesday, as European customers
continued to spend on furniture, despite the region’s economic
woes.
Steinhoff, which last year bought French retailer Conforama
and also owns Britain’s Harveys Furniture, said headline
earnings per share from continuing operations totalled 317 cents
in the year to end-June, from 239.9 cents a year earlier.
Headline EPS, the main measure of profit in South Africa,
excludes some one-time items.
Revenue totalled 80.43 billion rand ($9.6 billion), an 87
percent rise from a year earlier, boosted by the addition of
Conforama.
Steinhoff is on a restructuring drive aimed at creating
three listed separate businesses focused on selling furniture in
Europe, emerging markets and manufacturing.
The company has plans to evenutally list its European unit
and has said it could raise a minimum of 1.5 billion euros from
such a deal.
The company said last month it expected earnings to increase
by 30 to 35 percent.
Shares of the company were little changed at 1318 GMT, down
0.7 percent at 26.35 rand.
($1 = 8.4011 South African rand)
(Reporting by David Dolan; Editing by Ed Stoddard)
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