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.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Fin24 Seriously? Thought this shitstock Steinhoff was on 0 already? Buying this now is like voting for the ANC.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
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 »