Monday 6 March 2017 17-051MR Spotless writes down goodwill in half-yearly disclosure
ASIC notes the decision by Spotless Group Holdings Limited (Spotless) to write down goodwill relating to its Resources business by $99.2 million in its financial report for the half-year ended 31 December 2016. ASIC had raised questions in relation to the recoverable amount of the goodwill relating to the Resources business in Spotless’ financial report for the year ended 30 June 2016. As outlined in ASIC media release 16-428ASIC calls on preparers to focus on useful and meaningful financial reports, impairment testing and asset values remains a focus area of our financial reporting surveillance.
SPO Price at posting:
80.3¢ Sentiment: Sell Disclosure: Held
