Steinhoff posts 13% rise in HY core profit

Says its markets are likely to remain volatile in the near term.

South African retailer Steinhoff on Friday posted a 13% rise in core profit and said its markets were likely to remain volatile in the near term from inflationary pressures and supply-chain constraints.

Core profit from continuing operations rose to 760 million euros ($799.82 million) for the six months ended March 31, while the group’s net debt at the reporting date stood at 10.24 billion euros, rising from 8.12 billion euros a year earlier.

Access the full interim results here.

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