February 4, 2018 / 10:18 PM / 6 months ago

Australia's Wesfarmers sees major impairments in interim results

Feb 5 (Reuters) - Australia’s Wesfarmers Ltd said on Monday it expects to record a non-cash impairment of 454 million pounds ($640.37 million) before tax against goodwill recognised from its acquisition of UK homewares chain, Homebase.

The Australian retail-to-mining conglomerate through its unit Bunnings United Kingdom and Ireland acquired Homebase in January 2016 for 340 million pounds.

The company also expects a non-cash impairment of A$306 million ($242.11 million) before tax against the carrying value of its investment in Target.

$1 = 0.7090 pounds $1 = 1.2639 Australian dollars Reporting by Chandini Monnappa in Bengaluru; Editing by Daniel Wallis

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below