JOHANNESBURG (Reuters) - South African furniture retailer Steinhoff International reported a 32 percent rise in full-year profit on Tuesday, as European customers continued to spend on furniture, despite the region's economic woes.
Steinhoff, which last year bought French retailer Conforama and also owns Britain's Harveys Furniture, said headline earnings per share from continuing operations totalled 317 cents in the year to end-June, from 239.9 cents a year earlier.
Headline EPS, the main measure of profit in South Africa, excludes some one-time items.
Revenue totalled 80.43 billion rand, an 87 percent rise from a year earlier, boosted by the addition of Conforama.
Steinhoff is on a restructuring drive aimed at creating three listed separate businesses focused on selling furniture in Europe, emerging markets and manufacturing.
The company has plans to evenutally list its European unit and has said it could raise a minimum of 1.5 billion euros from such a deal.
The company said last month it expected earnings to increase by 30 to 35 percent.
Shares of the company were little changed at 1318 GMT, down 0.7 percent at 26.35 rand.
Source: http://news.yahoo.com/steinhoff-fy-profit-lifted-conforama-133045749--finance.html
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