May 29 (Reuters) - The investment unit of South African retailer Steinhoff International Holdings NV said on Friday it expects demand to remain weak due to constrained consumer spending in the wake of the COVID-19 crisis.
Steinhoff Investment Holdings, which posted an annual operating profit from continuing operations of 6.5 billion rand ($370.17 million) compared to a 632 million rand loss a year earlier, said the pandemic and related restrictions continue to negatively impact revenue and profitability.
$1 = 17.5594 rand Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Vinay Dwivedi
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May 29, 2020 at 02:47PM
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Investment arm of SA retailer Steinhoff warns of soft consumer demand - Reuters
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