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Steinhoff sticks to reporting schedule despite investigation
December 4, 2017 / 7:38 AM / 11 days ago

Steinhoff sticks to reporting schedule despite investigation

FRANKFURT (Reuters) - Furniture retailer Steinhoff (SHFFp.J)(SNHG.DE) said it would stick to its schedule to release results for its fiscal full year on Dec. 6 despite an ongoing criminal and tax investigation in Germany, but it said the figures would be unaudited.

“The Supervisory Board of Steinhoff confirms that the 2017 consolidated financial statements will be released albeit in unaudited form on schedule on 6 December 2017,” the company, which has listings in Germany and Johannesburg, said in a statement on Monday.

    “No additional information came to light to change the previous views expressed regarding the investigation,” it said, adding it expected to publish the audited results for its fiscal year through Sept. 30 before the end of January.

    A court decision on whether to allow a probe into Steinhoff’s accounts is expected by no later than December this year, the South African group said last month.

    German prosecutors are investigating current and former executives of Steinhoff for suspected accounting fraud. Steinhoff has denied there was any wrongdoing.

    Reporting by Ludwig Burger; Editing by Edmund Blair

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