Tag: Steinhoff
FCSA slaps Steinhoff’s Jooste with R161m fine
The Financial Sector Conduct Authority (FCSA) has imposed a R161 million administrative penalty on former Steinhoff chief executive (CEO), Markus Johannes Jooste, for breaching sections of the Financial Markets Act.
In a...
Steinhoff International sales hurt by global lockdown
STEINHOFF International has said the Covid-19 outbreak and trading restrictions imposed worldwide in March had a negative impact on its sales during the nine months to end June as some of...
Steinhoff has been fined R53 million for misleading markets
South Africa’s market regulator has fined retailer Steinhoff a record 53 million rand ($3.6 million) for making “false, misleading or deceptive statements” to the market, the company said on Thursday.
Steinhoff disclosed...
Steinhoff seeks to recoup payments made to ex-CEO
Steinhoff International said on Tuesday it had started legal proceedings against former Chief Executive Markus Jooste and ex-finance chief Ben La Grange to recover certain salary and bonus payments they got...
7 things you need to know today
This is all the latest business news that you need to know today:
1. Steinhoff woes continue to pile up in Europe
Troubled retailer Steinhoff International’s woes continue to pile up as one...
Group confirms suffering damage to its reputation
JOHANNESBURG – Steinhoff International confirmed suffering reputational damage from the recent accounting scandal as it recorded a 2 percent growth in group revenue to R221.7bn in the nine months to June.
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Steinhoff lost R80 million on the sale of its brand new company jet –...
Steinhoff on Friday afternoon released its interim results for the six months to end-March 2018.
It suffered an operating loss of €152 million (R2.4 billion) and its revenue declined by 6% to...
Markus Jooste profited handsomely from Steinhoff property deals
Markus Jooste, who quit as head of Steinhoff International Holdings NV in December amid an accounting scandal, oversaw a complex series of transactions where decisions made by the South African retailer...
Investec Bank lost R220 million due to Steinhoff
Investec Bank has said on Thursday that they have lost R220 million due to their credit exposure relating to Steinhoff.
The company released their financial results for the year ended...
Steinhoff’s R47.5bn mattress is overstuffed
Steinhoff International’s auditors are still trying to unpick a massive accounting scandal, which caused the acquisitive South African retailer’s share price to collapse in December and triggered a scramble to conserve...
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