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- Release Date: 09/11/12 10:30
- Summary: FORECAST: IFT: Infratil Airports Europe Carrying Values
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IFT
09/11/2012 08:30
FORECAST
REL: 0830 HRS Infratil Limited
FORECAST: IFT: Infratil Airports Europe Carrying Values
The Infratil Group's interim financial statements for the six months ended 30
September 2012 are to be released on the 13th of November 2012. For the
purposes of the interim financial statements, the Directors have completed a
fair value assessment of the airport assets of Infratil Airports Europe
Limited (Glasgow Prestwick and Kent Airports). As a result of this
assessment, Infratil has recognised an impairment charge of GBP 22.2 million
(NZD 43.9 million) in relation to the carrying value of the Airports, which
will be reflected in the Net Profit after Tax of the Infratil Group in the
interim financial statements.
Infratil has run an extensive sale process for the two airports which has not
yet resulted in a completed transaction, and the impairment charge reflects
market feedback received as part of this process. Infratil continues to
actively seek a buyer for the airports, while considering all other options
available with respect to the ongoing operations.
The impairment charge will be included within the net loss from discontinued
operations after tax in the Statement of Comprehensive Income of the Infratil
interim financial statements for the 6 month period ended 30 September 2012.
End CA:00229513 For:IFT Type:FORECAST Time:2012-11-09 08:30:04
