February 8, 2018 / 11:16 PM / 5 months ago

Australia's troubled Myer Holdings flags writedowns in HY 2018

Feb 9 (Reuters) - Australian Myer Holdings Ltd said it expects its first half net profit after tax to be in the range of A$37 million to A$41 million ($29 million to $32 million), while flagging a possible writedown, due to a decline in trading conditions.

Myer said total first-half sales were down 3.6 percent to A$1.72 billion, while falling 3 percent on a comparable store sales basis.

The embattled department store operator flagged a possible impairment charge for the first half of 2018.

In December last year, Myer said weaker-than-expected pre-Christmas trading would hit its first-half profit.

$1 = 1.2865 Australian dollars $1 = 1.2860 Australian dollars Reporting by Sandhya Sampath in Bengaluru

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