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bensonForBedsSteinhoff says upping the quality of its British store portfolio is paying off with stronger trading densities and market share gains.


The South African headquartered furniture group — whose UK retail businesses include Harveys and Bensons for Beds — said improving the quality of its trading estate here is supporting growth in its underlying operations.


“In particular, the group’s bedding retail business is benefiting from underlying growth and encouraging market share gains, while the furniture retail business continues to outperform the general market,” Steinhoff said in a half year trading statement.


Six month UK sales to end December reached R4.76bn (€339.8m*), up 19 per cent on the same period a year ago in the group’s reporting currency.


FY 2013–14 accounts for most of its British based businesses — which provide a more complete picture of its performance in local currency — are yet to be filed.


Steinhoff’s worldwide HY sales rose 12 per cent to R64.6bn with pre-tax earnings up 39 per cent to R7.02bn.


* conversion based on R14.01/€1, the quoted rate in Steinhoff’s interim accounts



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