June 16, 2020 / 7:19 AM / 19 days ago

BRIEF-Capitol Health Updates On Correction Of Accounting Treatment Of Contingent Consideration

June 16 (Reuters) - Capitol Health Ltd:

* UPDATES ON CORRECTION OF ACCOUNTING TREATMENT OF CONTINGENT CONSIDERATION

* CONTINGENT CONSIDERATION RELATING TO BUSINESSES ACQUIRED IN FY18, FY19 IDENTIFIED AS BEING INCORRECTLY TREATED IN 2019 ANNUAL REPORT

* IMPACT OF TREATMENT ON 30 JUNE 2019 RESULTS IS OVERSTATEMENT OF GOODWILL OF $5.3M

* IMPACT OF TREATMENT ON 30 JUNE 2019 RESULTS IS OVERSTATEMENT OF DEFERRED CONSIDERATION OF $0.9M, & OF PROFIT BEFORE TAX OF $4.4M

* REVISED ACCOUNTING TREATMENT OF CONTINGENT CONSIDERATION TO BE RESTATED IN GROUP’S 30 JUNE 2020 ANNUAL REPORT Source text for Eikon: Further company coverage:

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