{"id":14253,"date":"2012-09-04T15:42:08","date_gmt":"2012-09-04T13:42:08","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/update-1-steinhoff-fy-profit-up-lifted-by-conforama\/"},"modified":"2012-09-04T15:42:08","modified_gmt":"2012-09-04T13:42:08","slug":"update-1-steinhoff-fy-profit-up-lifted-by-conforama","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-steinhoff-fy-profit-up-lifted-by-conforama\/","title":{"rendered":"UPDATE 1-Steinhoff FY profit up, lifted by Conforama"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* FY headline EPS 317 cents vs 239.9<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Revenue up 87 pct at 80.43 billion rand<\/p>\n<p><span><\/span><\/p>\n<p>* Shares little changed<\/p>\n<p> (Adds details)<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Sept 4 (Reuters) &#8211; South African furniture<br \/>\nretailer Steinhoff International reported a 32 percent<br \/>\nrise in full-year profit on Tuesday, as European customers<br \/>\ncontinued to spend on furniture, despite the region&#8217;s economic<br \/>\nwoes.<\/p>\n<p><span><\/span><\/p>\n<p>Steinhoff, which last year bought French retailer Conforama<br \/>\nand also owns Britain&#8217;s Harveys Furniture, said headline<br \/>\nearnings per share from continuing operations totalled 317 cents<br \/>\nin the year to end-June, from 239.9 cents a year earlier.<\/p>\n<p><span><\/span><\/p>\n<p>Headline EPS, the main measure of profit in South Africa,<br \/>\nexcludes some one-time items.<\/p>\n<p><span><\/span><\/p>\n<p>Revenue totalled 80.43 billion rand ($9.6 billion), an 87<br \/>\npercent rise from a year earlier, boosted by the addition of<br \/>\nConforama.<\/p>\n<p><span><\/span><\/p>\n<p>Steinhoff is on a restructuring drive aimed at creating<br \/>\nthree listed separate businesses focused on selling furniture in<br \/>\nEurope, emerging markets and manufacturing.<\/p>\n<p><span><\/span><\/p>\n<p>The company has plans to evenutally list its European unit<br \/>\nand has said it could raise a minimum of 1.5 billion euros from<br \/>\nsuch a deal.<\/p>\n<p><span><\/span><\/p>\n<p>The company said last month it expected earnings to increase<br \/>\nby 30 to 35 percent.<\/p>\n<p><span><\/span><\/p>\n<p>Shares of the company were little changed at 1318 GMT, down<br \/>\n0.7 percent at 26.35 rand.<br \/>\n($1 = 8.4011 South African rand)<\/p>\n<p> (Reporting by David Dolan; Editing by Ed Stoddard)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* 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) &#8211; 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&#8217;s [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-14253","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14253","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=14253"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14253\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14253"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14253"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14253"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}