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South Africa's Steinhoff reports 12.5 percent profit increase

Reuters - UK Focus

JOHANNESBURG, Dec (Shanghai: 600875.SS - news) 7 (Reuters) - South African furniture and clothing retailer Steinhoff International reported a 12.5 percent rise in fourth-quarter operating profit on Wednesday, boosted by general merchandise sales in South Africa and eastern Europe

Steinhoff, which bought Mattress Firm (NasdaqGS: MFRM - news) and Britain's Poundland this year, said its operating profit rose to 327 million euros ($350.51 million) in the 3 months to end-September from 291 million euros a year earlier.

The company's JSE-listed shares rose after the results were released, climbing 4 percent to 66.28 rand by 0736 GMT.

Steinhoff changed its year-end to September 30 earlier this year and on Wednesday also published a set of results for the 12 months to end-September.

($1 = 0.9329 euros) (Reporting by TJ Strydom. Editing by Jane Merriman)