May 18, 2018 / 1:21 PM / in a month

Steinhoff posts H1 loss as restructuring wipes out sales gain

FRANKFURT, May 18 (Reuters) - South African retailer Steinhoff, which has been embroiled in an accounting scandal, said its first-half retail revenues rose 1 percent but it still posted a net loss due among others to restructuring costs and losses on asset disposals.

Retail revenues rose to 9.4 billion euros ($11.1 billion) in the six months through March from a restated 9.3 billion in the year-earlier period, it said following a meeting with lenders on Friday, citing preliminary figures.

It remains essential that a restructuring is agreed with lenders as soon as possible, it said. ($1 = 0.8503 euros) (Reporting by Maria Sheahan Editing by Douglas Busvine)

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