Steinhoff Continues to Delay Publication of Fiscal Year 2017 Accounts

By Adria CalatayudFeaturesDow Jones Newswires

Steinhoff International Holdings NV (SNH.JO) said Tuesday that it has postponed the publication of its fiscal 2017 consolidated accounts, as a review by accountancy firm PricewaterhouseCoopers (PWC.XX) hasn't been completed yet.

In December, the South African retailer disclosed accounting irregularities and delayed the release of its 2017 results. It then hired PwC to conduct an independent investigation into its books.

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Steinhoff said it has informed the Netherlands Authority for the Financial Markets that it won't release its results for the year ended Sept. 30, 2017, by Wednesday. Yet it said that its shares will continue to be listed and traded on both the Frankfurt Stock Exchange and the Johannesburg Stock Exchange.

The company said that it will update the market on the availability of its results as soon as it is able to.

Frankfurt-listed shares in Steinhoff at 1129 GMT were down 5% at 0.49 euros.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

January 30, 2018 06:48 ET (11:48 GMT)