Highlights

OPERATING MARGIN increased to 10.1%

HEADLINE EARNINGS increased 4% to R 1 554m

Growth in INTRA-GROUP SALES of 28%

NET CASH FLOW from operating activities: R 1.4bn

NET GEARING at 36%

Manufacturing and sourcing

United Kingdom : The manufacturing performance was ahead of expectations in both sales and profit, although the divisional results were mixed....

Continental Europe : The consolidation in the industry continues to benefit Steinhoff's manufacturing operations in Europe...

International Sourcing : The relatively stable currency translation between the euro and the US dollar has continued to stimulate our trade...

Southern Africa : The decline in the South African construction and furniture markets continues to have a negative impact...

Logistics services

Southern Africa : Unitrans Logistics reported an exceptional performance, with growth in operating profit of 16%....

Continental Europe, United Kingdom, Pacific Rim : The group's focus on logistical expertise, and existing warehouse footprint in Europe is continuing to benefit group operations...

Retail activities

United Kingdom : The UK retail businesses increased revenues in the seasonally weaker first half of the financial year...

Continental Europe : The retail business in Continental Europe delivered another set of commendable results...

Pacific Rim : Positive consumer sentiment in Australia has resulted in growth...

Southern Africa : Market conditions remained extremely competitive for Pennypinchers and Timbercity during this period...