February 28, 2018 / 3:50 PM / 6 months ago

BRIEF-Steinhoff Reports Q1 Total Retail Revenue Of 4.86 Bln Euros‍​

Feb 28 (Reuters) - Steinhoff International Holdings Nv :

* Q1 TOTAL RETAIL REVENUE AS REPORTED 4.86 BILLION EUROS‍​ VERSUS 5.1 BILLION EUROS

* “WE ARE WORKING HARD TO UNCOVER THE TRUTH AND TO PROSECUTE WRONGDOING”- CHAIRPERSON

* “WE ARE COOPERATING FULLY WITH REGULATORS AND WILL CONTINUE TO DO SO”- CHAIRPERSON

* ERM BUSINESS HAS INCREASED REVENUE IN Q1 BY 1 PERCENT TO 683 MILLION EUROS ‍​ON A PRO FORMA BASIS

* STAR ACHIEVED Q1 REVENUE GROWTH OF 8 PERCENT TO 1,143 MILLION EUROS‍​ VERSUS 1,06 MILLION EUROS YEAR AGO

* STAR IS PLANNING TO OPEN 350 STORES DURING FY 2018 INCLUDING OPENED IN Q1

* FOLLOWING EVENTS OF EARLY DECEMBER 2017, “ESSENTIAL WORKING CAPITAL, ESPECIALLY IN ITS BUSINESSES OUTSIDE OF SOUTH AFRICA, LARGELY DRIED UP” Source text for Eikon: Further company coverage:

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