In an operating environment that became more challenging as the year progressed, Steinhoff delivered a strong performance for the year to 30 June 2011. It was a year in which we weathered global financial market stresses not seen in the last decade; finalised a major acquisition in the important markets of Europe...
To continue the drive for revenue growth at competitive margins, our strategy focuses on servicing the value-conscious consumer through our integrated household goods supply chain in Europe and Australasia and capitalising on our strategic industrial advantage in emerging markets.
The year under review has been transformational for Steinhoff. In March 2011, Steinhoff Europe acquired the European household goods retailer, Conforama, and Steinhoff Africa concluded the sale of our African retail assets (resulting in JD Group becoming an associate company of Steinhoff).