News: MTS Metcash Announces Impairment Of Intangible Assets

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    June 6 (Reuters) - Metcash Ltd (MTS) :

    • STATEMENTS FY 30 APRIL 2018 WILL RECOGNISE A $352 MILLION IMPAIRMENT TO GOODWILL AND OTHER NET ASSETS IN SUPERMARKETS & CONVENIENCE PILLAR
    • IMPAIRMENT CHARGE COMPRISES $318 MILLION OF GOODWILL AND OTHER INTANGIBLES, AND $34 MILLION OF OTHER NET ASSETS IN SUPERMARKETS & CONVENIENCE PILLAR
    • TOTAL IMPAIRMENT CHARGE OF $352 MILLION WILL BE DISCLOSED SEPARATELY AS A SIGNIFICANT ITEM IN COMPANY'S FY18 FINANCIAL STATEMENTS
    • IMPAIRMENTS ARE NON-CASH IN NATURE, HAVE NO IMPACT ON COMPANY'S DEBT FACILITIES, COMPLIANCE WITH BANKING COVENANTS
 
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