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Cape Town - Integrated retailer Steinhoff International [JSE:SHF] announced its interim results for the six months ended December 2013 on Tuesday.
Headline earnings per share (Heps) improved by 41% to 243 cps. Cash generated from operations was at R5.6bn and operating margin increased by 70 bps to 9.4%.
Sales increased 17% to R67.4bn.
Steinhoff posted a 41% increase in profit. Since the company has a lot of sales in Europe, the weaker rand made a positive impact on its profits.
Steinhoff announced in January this year that it plans to sell as much as $631m of bonds convertible into shares to push out debt maturities.
Headline earnings per share (Heps) improved by 41% to 243 cps. Cash generated from operations was at R5.6bn and operating margin increased by 70 bps to 9.4%.
Sales increased 17% to R67.4bn.
Steinhoff posted a 41% increase in profit. Since the company has a lot of sales in Europe, the weaker rand made a positive impact on its profits.
Steinhoff announced in January this year that it plans to sell as much as $631m of bonds convertible into shares to push out debt maturities.
