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    Steinhoff at best level since November 2012

    Steinhoff International shares rose more than 7% on Wednesday (28 August) to their best level since November 2012 after the company said it expected to increase its profits.

    The furniture retailer said it anticipated earnings per share and headline earnings per share for the year ended 2013 will rise by between 20% and 25% compared with last year.

    "What they are showing is well ahead of expectations‚ almost in line with what people expected them to earn in 2014‚" Investec Asset Management analyst Rob Forsyth said.

    On Wednesday (28 August)‚ Steinhoff's shares were up 5.07% at R29.21‚ valuing the company at R53.63bn.

    Source: I-Net Bridge

    For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

    We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

    Go to: http://www.inet.co.za
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