The Stellenbosch-headquartered retailer
for the financial year ended September 30, 2017, and a net loss of €279m for the 15 months ended September 30, 2016. It is also facing mounting legal claims. also awarded millions of rands in bonusesThe group's shares have plunged by over 95% since December 2017, cutting its market capitalisation by over R200bn.
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Fin24 Seriously? Thought this shitstock Steinhoff was on 0 already? Buying this now is like voting for the ANC.
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Business Maverick: Scandal-hit Steinhoff posts $4 bln operating loss for fiscal 2017Steinhoff has reported an operating loss at 3.7-billion euros vs restated profit 278-million euros, blaming writedowns for the loss. The assets are valued at 17.5-billion vs 32.2-billion in 2016 but says its on track to release 2018 results in June
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Steinhoff’s future remains bleak after 2017 results highlight scale of its lossesScandal-plagued South African retailer Steinhoff published its long-delayed 2017 results at the witching hour on Tuesday night. The hocus-pocus that triggered the biggest corporate accounting rip-off in SA history seems to be a thing of the past. But if the group hopes to be a viable entity in the future, it may have to rely on magic. Scale of theft. THEFT.
Source: dailymaverick - 🏆 3. / 84 Read more »