Scandal-ridden Steinhoff reports a 3% rise in quarterly sales

PUBLISHED: Thu, 28 Feb 2019 15:08:14 GMT

JOHANNESBURG (Reuters) – South African retailer Steinhoff reported on Thursday a 3 percent rise in sales to 4.7 billion euros ($5.4 billion) for the three months ended Dec. 31.

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The firm, trying to clean up its finances after uncovering an accounting fraud that nearly tipped it into bankruptcy, also said a forensic investigation into the problems at the firm by accountancts PwC would be delivered to the board in mid-March.

($1 = 0.8783 euros)

Reporting by Emma Rumney; Editing by Mark Potter