Steinhoff forecasts higher profits

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Furniture group Steinhoff International Holdings (SHF) said on Wednesday it expected headline earnings per share in the six months ended December 2011 to rise between 40% and 50%, from the previous comparable period.

Earnings per share are expected to increase by the same margin.

The major contributors to the increase in earnings relate to the inclusion of March 2011 acquisition, Conforama Holding SA's results, a more favourable translation rate of the euro-earnings to rand, and the associate earnings derived from the investment in the JD Group (JDG). - I-Net Bridge

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