Steinhoff Investment Holdings is a subsidiary of the troubled retailer, which plunged more than 95percent in December 2017 after admitting to accounting irregularities. Steinhoff International results were initially expected at the end of December.
The group then pushed the release of its results to mid-April, with Steinhoff Investment Holdings results to be published soon thereafter. It cited delays to a forensic investigation being conducted by auditors PricewaterhouseCoopers (PwC), which was originally expected to be completed at the end of February, but which investigators described as a “complex investigation”.
“Shareholders are referred to the announcement made on December 6, 2018, where the company announced that Steinhoff International Holdings had estimated that it will publish its group audited financial statements for 2017 and 2018 by the middle of April 2019, and that the 2017 and 2018 financial statements for Steinhoff Investment Holdings will be released shortly thereafter,” the group said in a note to shareholders on Wednesday.
Steinhoff is facing a challenging time in France after a report said its subsidiary, Conforama, was planning to cut 2000 jobs and it could possibly be sold later.