Stefanutti reports reducing its losses

STEFANUTTI Stocks Holdings reduced its losses to 155.3 cents per share in the year to February 28, compared with the loss of 622.48c the previous year, as it begins a major restructuring to lift solvency.

The loss for the period reduced to R290.18 million from the R1.08 billion loss reported at the end of the 2020 financial year.

Current liabilities exceeded the firm’s current assets by R1.36bn on February 28.