South African conglomerate Steinhoff International has reported that ‘resilient’ sales within the bedding sector have seen its UK performance deliver continued growth in what typically is a ‘slow’ quarter.
According to its latest unaudited financial update for the 12 months ended 30 June 2016, Steinhoff saw its UK Household Goods bedding category continue to support sales growth in constant currency, with like-for-like sales up by 8%.
Within Europe, including the UK, revenue increased by 15% to €7.3bn, representing 87% of total household group sales.
Overall, Steinhoff, which owns UK brands Bensons for Beds and Harveys, posted an increase of 33% in sales to €13.1bn, with operating profit also up by 32% to €1.5bn. Group operating margin at 11.3% was similar to the comparative period.
Steinhoff announced that it would release its full financial results on 7 September 2016.