BUSINESS MAVERICK: Steinhoff’s delayed 2018 results show, once again, that it probably is not a going concern

The last 18 months have been a challenging time for the Company, following the events of December 2017.”

Now we have the 2018 results. It remains to be seen if there will be an entity called Steinhoff standing when the 2019 numbers are due. The market was not impressed as its shares tanked on Wednesday 19 June.At the outset, it should be noted that it is now clear from the multiple investigations carried out that the accounting irregularities, over an extended period, masked the fact that the Group’s profitability was challenged.”For the record, Steinhoff’s 2018 loss was €1.

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