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Steinhoff Africa Retail’s quarterly revenue jumps 15.5%

Revenue up to R18.4 billion.

Steinhoff Africa Retail (Star) reported a 15.5% increase in revenue for the quarter ended December on Friday, thanks mainly to a strong showing at discount clothing chains.

Steinhoff Africa Retail, spun off from Steinhoff International Holdings last year, said revenue grew to R18.4 billion ($1.52 billion) in the three-months ended December 31. On a comparable basis, revenue grew 8.5% for the quarter.

“While the challenges of deflation on the performance of Pep and Ackermans is expected to continue, management remains confident that the more affordable offer and lower prices within these brands will continue to resonate with a financially constrained consumer,” the company said in a statement. 

Pep and Ackermans are clothing retailers. Star also has stores selling building materials, furniture, consumer electronics and appliances.

Star said in its trading update that while the building materials market was expected to remain subdued, the positive momentum in the remainder of the Star group was expected to further drive performance in the 2018 financial year.

Steinhoff, which owns Poundland in Britain, Mattress Firm in the United States and Conforama in France, spun off its African chains to get a higher rating for its developed market businesses and to give investors keen on exposure to Africa a chance to invest in Star directly.

($1 = R12.10)

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Issa scam…

Fall for it on your own peril

The fact that you are using the word “Issa” means you should spend more time on Instagram posting selfies than reading Finance articles.

I bought after the Viceroy dip and will hold for a couple years.

Mike, what is your opinion on where this is going stock price wise?
I also bought in December.

What is growth if exclude acquisitions?

Buy, buy, bye, bye

laurensK are you talking about SNH or SRR? Steinhoff Africa seems to have been a pretty good buy for me after the Viceroy slump mine is up about 20-25% depending on the day so Ill just hold on to that. Steinhoff International is a whole different ball game and I’m no fortune teller, but to see Mr Wiese reduced his holding from 21% to 6% this weekend isnt exactly a good sign, I have 18 000 shares I think my average buy price was at R7 or R8 or something, will hold them to the end of the year and reassess 🙂 Never invest more than you are willing to risk ^^

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