By Adria Calatayud

Steinhoff Africa Retail Ltd. (SRR.JO) said Friday that it estimates earnings per share for the first half of fiscal 2018 to fall between 44% and 52% on year.

The African retailer--which was spun off from Steinhoff International Holdings NV (SNH.JO) last year--said it anticipates EPS for the six months ended March 31 of between 33.4 and 39.0 South African rand cents (2.7-3.1 U.S. cents) compared with 69.9 cents in the year-earlier period.

STAR said it forecasts adjusted EPS--excluding the impact of accounting issues at the company's controlling shareholder, Steinhoff International--to grow between 10% and 18% to between 50.8 cents and 54.4 cents. This compares with adjusted EPS of 46.0 cents for the first half of fiscal 2017. Adjusted headline EPS for the first half is forecast at 50.7 cents to 54.5 cents compared with 46.9 cents in the first half of fiscal 2017, STAR said.

The company said the issues that have hit Steinhoff International have also had a significant impact on its first-half performance.

STAR will publish its full first-half results on May 29.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

May 25, 2018 11:56 ET (15:56 GMT)