RETAIL

UK half year sales flat for Bensons & Harveys parent Steinhoff

3rd March 2010

The parent company of retail chains Harveys, Bensons and Sleepmasters says UK revenues climbed a shade over a half of one per cent year on year to £336.25m in the six months to 31st December.*

Steinhoff, which also owns a string of manufacturing operations including bed firm Relyon, said its UK retail operations were well placed for further market share growth, but the 'excellent sales performance of its largest furniture business, Harveys, has slowed in recent weeks due to adverse weather.'

On the supply side, it said the performance was ahead of expectations in both sales and profits, but had produced mixed divisional results.

'The foam conversion operation showed a strong recovery and the upholstery division continues to benefit from being an integrated part of the Harveys retail supply chain.'

However, it added that, 'Relyon was unable to capitalise fully on increased factory demand, but is progressing well on rectifying this shortfall.'

Global sales across the Steinhoff group climbed 4% to £2.19bn.

* currency conversions from South African rand into GBP, correct 3/3/2010