Stefanutti Stocks’ FY operating loss widens on impairment

JSE-listed Stefanutti Stocks’ operating loss widened to R451-million for the financial year ended February 28, compared with the R106-million loss incurred in the prior financial year. The company on Thursday reported that goodwill and intangible assets of R667-million had been impaired, predominantly relating to the goodwill that arose from the Stocks Limited acquisition.