February 4, 2018 / 11:27 PM / 5 months ago

BRIEF-Downer Edi Sees Non-Cash Impairment Of Mining Goodwill

Feb 5 (Reuters) - Downer Edi Ltd:

* NON-CASH IMPAIRMENT OF MINING GOODWILL

* ‍WILL IMPAIR CARRYING VALUE OF GOODWILL FOR ITS MINING BUSINESS.​

* NO CHANGE TO UNDERLYING GUIDANCE FOR 2018 FINANCIAL YEAR

* A PRE-TAX CHARGE OF $77 MILLION WILL BE RECORDED IN DOWNER’S RESULTS FOR SIX MONTHS TO 31 DECEMBER 2017

* IS TARGETING FY UNDERLYING NET PROFIT AFTER TAX & BEFORE AMORTISATION OF ACQUIRED INTANGIBLE ASSETS OF $295 MILLION BEFORE MINORITY INTERESTS​

* ‍HY PRE-TAX CHARGE IS A NON-CASH ITEM AND WILL NOT HAVE ANY IMPACT ON CASH FLOW OR COMPANY’S EXISTING OPERATIONS​ Source text for Eikon: Further company coverage:

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