June 18, 2019 / 8:35 PM / 3 months ago

Scandal-hit Steinhoff posts $1.3 bln loss in delayed 2018 results

JOHANNESBURG, June 18 (Reuters) - South African retailer Steinhoff on Tuesday reported a 1.2 billion euro ($1.34 billion) loss for the 2018 fiscal year, in a much-delayed earnings report revealing the impact of an accounting fraud put at $7.27 billion.

Steinhoff, which is also listed in Frankfurt, delayed the results after finding holes in its accounts in December 2017, shocking investors who had backed its reinvention from a small South African furniture outfit into a discount furniture retailer straddling four continents. ($1 = 0.8935 euro) (Reporting by Nqobile Dludla, editing by G Crosse)

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