COOL OR COSY ANNOUNCES $1.1m WRITE-DOWN
The Directors of Cool or Cosy (ASX code: COS) today announced that, following a restructure of the business operations in Queensland which resulted in the relocation of the Grants Airconditioning subsidiary, it is taking a $1.1m write-off, saying the goodwill value on its last financial report is no longer supported by the current performance of the Grants business and is unable to separately justify the carrying value of the amount which has now been reduced to zero. This write down will impact the result for the year ended 30 June 2007.
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