South African retailer Steinhoff International, owner of retail brands Harveys and Bensons for Beds in the UK, plus trade brands including Slumberland, Myer's, Dunlopillo and Relyon, reports unaudited revenue growth of 33% to €13.1b for the year ending 30th June. Operating profit improved by 32% to €1.5b.
Steinhoff's European businesses – including France's Conforama – saw household goods revenue grow by 15% to €7.2b, with UK sales boosted by the bedding product category in particular. In the UK, the company's focus remains on increasing market share in this sector.
Steinhoff has taken a aggressive approach to acquisitions this year. After pulling out of a bidding war for Argos, it confirmed the purchase of Poundland, as well as US company Mattress Firm.
Steinhoff is due to report its full results on Tuesday 7th September.